Pinnacle West Asset Management Inc. Buys 545 Shares of PACCAR Inc (NASDAQ:PCAR)

Pinnacle West Asset Management Inc. grew its stake in PACCAR Inc (NASDAQ:PCAR) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,605 shares of the company’s stock after acquiring an additional 545 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in PACCAR were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Madrona Financial Services LLC increased its stake in PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after purchasing an additional 91 shares in the last quarter. Global Financial Private Client LLC increased its stake in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after purchasing an additional 97 shares in the last quarter. Omnia Family Wealth LLC increased its stake in PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after purchasing an additional 98 shares in the last quarter. Insight Wealth Partners LLC increased its stake in PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after purchasing an additional 104 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

NASDAQ:PCAR opened at $106.58 on Wednesday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $107.28 and a 200 day simple moving average of $105.53. The stock has a market capitalization of $55.93 billion, a PE ratio of 13.47, a P/E/G ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its earnings results 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 net margin of 12.36% and a return on equity of 23.53%. On average, research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction 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 completion of the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on PCAR. JPMorgan Chase & Co. increased their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

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.