Forum Financial Management LP Lowers Holdings in PACCAR Inc (NASDAQ:PCAR)

Forum Financial Management LP decreased its position in PACCAR Inc (NASDAQ:PCAR) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,861 shares of the company’s stock after selling 554 shares during the quarter. Forum Financial Management LP’s holdings in PACCAR were worth $1,026,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC bought a new position in PACCAR in the 4th quarter valued at approximately $37,000. OFI Invest Asset Management purchased a new stake in PACCAR during the 4th quarter valued at $43,000. Finally, Atala Financial Inc bought a new stake in shares of PACCAR in the 4th quarter worth $43,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of research analyst reports. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup reduced their price target on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.59.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Up 1.6 %

Shares of PCAR stock opened at $88.17 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company has a market cap of $46.28 billion, a price-to-earnings 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 firm has a fifty day moving average price of $99.09 and a 200-day moving average price of $105.76.

PACCAR (NASDAQ:PCAR) last released its quarterly 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 net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

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