Tower Research Capital LLC TRC Has $4.36 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Tower Research Capital LLC TRC raised its position in PACCAR Inc (NASDAQ:PCAR) by 60.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,898 shares of the company’s stock after buying an additional 15,737 shares during the period. Tower Research Capital LLC TRC’s holdings in PACCAR were worth $4,358,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new position in shares of PACCAR in the 4th quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. boosted its stake in PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after purchasing an additional 6,494 shares in the last quarter. LPL Financial LLC grew its holdings in shares of PACCAR by 6.1% during the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after purchasing an additional 12,143 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in PACCAR by 19.3% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after acquiring an additional 214 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research reports. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. Truist Financial reduced their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and cut their price target for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus target price of $108.59.

Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $88.17 on Monday. The stock has a market cap of $46.28 billion, a P/E ratio of 11.15, a price-to-earnings-growth 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 stock’s 50-day moving average price is $99.09 and its two-hundred day moving average price is $105.84. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. On average, equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

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

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.