Gitterman Wealth Management LLC Takes $353,000 Position in PACCAR Inc (NASDAQ:PCAR)

Gitterman Wealth Management LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,392 shares of the company’s stock, valued at approximately $353,000.

Several other large investors have also recently made changes to their positions in PCAR. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the 4th quarter valued at $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR during the 4th quarter worth $37,000. OFI Invest Asset Management bought a new position in shares of PACCAR during the 4th quarter worth $43,000. Atala Financial Inc bought a new position in shares of PACCAR during the 4th quarter worth $43,000. Finally, Regents Gate Capital LLP bought a new position in shares of PACCAR during the 4th quarter worth $44,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of PCAR opened at $99.21 on Friday. The company has a market cap of $52.07 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. 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 stock has a 50-day moving average price of $107.17 and a 200-day moving average price of $106.35. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly 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%. As a group, equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on PCAR shares. Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Evercore ISI cut their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.35.

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 stock was sold at an average price of $110.98, for a total value 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 $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents 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 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.