Smart Money Group LLC Grows Holdings in PACCAR Inc (NASDAQ:PCAR)

Smart Money Group LLC boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 7.6% during the 4th quarter, HoldingsChannel reports. The firm owned 6,174 shares of the company’s stock after purchasing an additional 438 shares during the period. Smart Money Group LLC’s holdings in PACCAR were worth $642,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Clarius Group LLC raised its position in PACCAR by 0.8% during the 4th quarter. Clarius Group LLC now owns 2,329,473 shares of the company’s stock worth $242,312,000 after buying an additional 17,499 shares during the last quarter. J2 Capital Management Inc acquired a new position in shares of PACCAR during the fourth quarter worth about $525,000. Aaron Wealth Advisors LLC raised its holdings in PACCAR by 13.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 5,804 shares of the company’s stock worth $604,000 after purchasing an additional 676 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in PACCAR in the fourth quarter valued at about $246,000. Finally, HB Wealth Management LLC boosted its holdings in PACCAR by 9.3% in the 4th quarter. HB Wealth Management LLC now owns 35,661 shares of the company’s stock valued at $3,710,000 after purchasing an additional 3,046 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Up 0.8 %

Shares of PACCAR stock opened at $110.33 on Monday. The firm has a market cap of $57.85 billion, a PE ratio of 12.33, a P/E/G ratio of 1.72 and a beta of 0.93. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The business’s fifty day moving average is $111.10 and its two-hundred day moving average is $104.05.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 earnings per share. Analysts anticipate that PACCAR Inc will post 7.92 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on PCAR shares. Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $120.13.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.