Gamco Investors INC. ET AL Sells 2,000 Shares of PACCAR Inc (NASDAQ:PCAR)

Gamco Investors INC. ET AL lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,302 shares of the company’s stock after selling 2,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in PACCAR were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PCAR. Rossby Financial LCC bought a new position in PACCAR during the fourth quarter valued at about $206,000. Canada Post Corp Registered Pension Plan bought a new position in shares of PACCAR during the 4th quarter valued at approximately $2,749,000. Mariner LLC increased its stake in shares of PACCAR by 2.9% during the 4th quarter. Mariner LLC now owns 72,647 shares of the company’s stock worth $7,557,000 after purchasing an additional 2,029 shares during the last quarter. Fiducient Advisors LLC bought a new stake in shares of PACCAR in the 4th quarter worth approximately $38,064,000. Finally, Synovus Financial Corp lifted its stake in PACCAR by 2.1% in the fourth quarter. Synovus Financial Corp now owns 9,085 shares of the company’s stock valued at $945,000 after purchasing an additional 186 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCAR. Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Truist Financial cut their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Citigroup decreased their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and cut their target price for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their price target on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $108.59.

PACCAR Trading Up 1.6 %

Shares of PACCAR stock opened at $88.17 on Friday. The company has a 50 day simple moving average of $99.45 and a two-hundred day simple moving average of $105.82. The firm has a market cap of $46.28 billion, a PE ratio of 11.15, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $85.10 and a 1 year high of $118.81. 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 (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.50%. PACCAR’s dividend payout ratio is 16.69%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction 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. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

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.