FourThought Financial Partners LLC Takes $308,000 Position in PACCAR Inc (NASDAQ:PCAR)

FourThought Financial Partners LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,964 shares of the company’s stock, valued at approximately $308,000.

Several other large investors also recently made changes to their positions in PCAR. Wellington Management Group LLP boosted its holdings in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in PACCAR in the 3rd quarter valued at $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after purchasing an additional 576,532 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last ninety days. 2.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. 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. Citigroup lowered their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus target price of $121.77.

PACCAR Trading Up 0.3 %

NASDAQ PCAR opened at $106.58 on Wednesday. The business’s fifty day moving average is $107.28 and its 200-day moving average is $105.53. 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 stock has a market capitalization of $55.93 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.77 and a beta of 0.92. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

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

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.