Avestar Capital LLC Increases Position in PACCAR Inc (NASDAQ:PCAR)

Avestar Capital LLC raised its position in PACCAR Inc (NASDAQ:PCAR) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,086 shares of the company’s stock after purchasing an additional 375 shares during the period. Avestar Capital LLC’s holdings in PACCAR were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $1,851,000. Lester Murray Antman dba SimplyRich boosted its holdings in shares of PACCAR by 1.0% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 19,808 shares of the company’s stock valued at $2,060,000 after buying an additional 204 shares in the last quarter. Certuity LLC acquired a new position in shares of PACCAR in the 4th quarter valued at $279,000. Arlington Trust Co LLC boosted its holdings in shares of PACCAR by 221.6% in the 4th quarter. Arlington Trust Co LLC now owns 1,119 shares of the company’s stock valued at $116,000 after buying an additional 771 shares in the last quarter. Finally, Bristlecone Advisors LLC boosted its stake in PACCAR by 1.4% during the 4th quarter. Bristlecone Advisors LLC now owns 102,449 shares of the company’s stock worth $10,657,000 after purchasing an additional 1,426 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PCAR. Morgan Stanley decreased 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. Truist Financial increased their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Jefferies Financial Group cut shares of 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. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Bank of America upgraded shares of 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 research note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.95.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of the firm’s 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 transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,871 shares of company stock worth $14,586,333 in the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

Shares of PCAR opened at $105.96 on Friday. The company has a 50-day simple moving average of $108.52 and a 200-day simple moving average of $104.74. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $55.55 billion, a PE ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced 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%. Equities research analysts predict that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued 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 currently 15.17%.

PACCAR Company 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.