PACCAR Inc (NASDAQ:PCAR) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in PACCAR Inc (NASDAQ:PCAR) by 21.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,890 shares of the company’s stock after purchasing an additional 3,296 shares during the period. NewEdge Advisors LLC’s holdings in PACCAR were worth $1,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PCAR. Meeder Asset Management Inc. lifted its holdings in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Atala Financial Inc acquired a new stake in shares of PACCAR in the fourth quarter valued at approximately $43,000. Finally, Regents Gate Capital LLP purchased a new position in shares of PACCAR during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the 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 sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PCAR. Truist Financial decreased their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $108.59.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $88.56 on Wednesday. The company’s fifty day moving average is $98.44 and its two-hundred day moving average is $105.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a market capitalization of $46.49 billion, a P/E ratio of 11.20, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a one year low of $85.05 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (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%. Analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders 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 of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.49%. PACCAR’s dividend payout ratio is 16.69%.

PACCAR 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.