Mitchell Capital Management Co. Purchases New Stake in PACCAR Inc (NASDAQ:PCAR)

Mitchell Capital Management Co. purchased a new stake in PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,472 shares of the company’s stock, valued at approximately $5,666,000.

A number of other institutional investors have also recently modified their holdings of PCAR. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the fourth quarter valued at $37,000. Regents Gate Capital LLP acquired a new stake in PACCAR in the fourth quarter valued at $44,000. Ashton Thomas Securities LLC acquired a new stake in PACCAR in the third quarter valued at $52,000. Finally, AdvisorNet Financial Inc grew its holdings in PACCAR by 223.4% in the fourth 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 last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on PCAR shares. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Evercore ISI lowered 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. Bank of America raised 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 report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.77.

PACCAR Stock Performance

NASDAQ PCAR opened at $107.24 on Friday. The business’s 50-day moving average price is $107.24 and its 200 day moving average price is $105.73. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a market capitalization of $56.28 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. On average, research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

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 dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 16.69%.

Insider Buying and Selling

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by company insiders.

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.