Y Intercept Hong Kong Ltd Boosts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Y Intercept Hong Kong Ltd boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 116.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,559 shares of the company’s stock after purchasing an additional 8,368 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in PACCAR were worth $1,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Howard Capital Management Inc. increased its holdings in PACCAR by 5.9% during the 4th quarter. Howard Capital Management Inc. now owns 17,504 shares of the company’s stock worth $1,821,000 after purchasing an additional 971 shares during the last quarter. Navellier & Associates Inc. increased its holdings in PACCAR by 18.3% during the 4th quarter. Navellier & Associates Inc. now owns 4,771 shares of the company’s stock worth $496,000 after purchasing an additional 739 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in PACCAR during the 4th quarter worth approximately $947,000. JLB & Associates Inc. increased its holdings in PACCAR by 13.5% during the 4th quarter. JLB & Associates Inc. now owns 39,587 shares of the company’s stock worth $4,118,000 after purchasing an additional 4,712 shares during the last quarter. Finally, Lakeside Advisors INC. increased its holdings in PACCAR by 46.0% during the 4th quarter. Lakeside Advisors INC. now owns 33,268 shares of the company’s stock worth $3,460,000 after purchasing an additional 10,483 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 0.3 %

NASDAQ:PCAR opened at $106.58 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The business has a 50 day simple moving average of $107.28 and a 200 day simple moving average of $105.53. The firm has a market capitalization of $55.93 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given 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 payout ratio is 16.69%.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01 % 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, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

PCAR has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Citigroup decreased their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

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.