Fortitude Advisory Group L.L.C. Buys 242 Shares of PACCAR Inc (NASDAQ:PCAR)

Fortitude Advisory Group L.L.C. lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,456 shares of the company’s stock after purchasing an additional 242 shares during the period. PACCAR accounts for 2.0% of Fortitude Advisory Group L.L.C.’s portfolio, making the stock its 8th largest position. Fortitude Advisory Group L.L.C.’s holdings in PACCAR were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of PACCAR during the second quarter worth $26,000. Grove Bank & Trust increased its position in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the period. Sander Capital Advisors Inc. bought a new stake in PACCAR during the 3rd quarter worth about $50,000. Ashton Thomas Securities LLC bought a new stake in PACCAR during the 3rd quarter worth about $52,000. Finally, AdvisorNet Financial Inc lifted its position in PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after purchasing an additional 391 shares during the period. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PCAR. Morgan Stanley dropped their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Citigroup dropped their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.23.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.0 %

Shares of NASDAQ:PCAR opened at $109.91 on Tuesday. The firm has a market cap of $57.63 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.93. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company’s fifty day simple moving average is $110.55 and its 200 day simple moving average is $104.37.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 13.41%.

About PACCAR

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.