OFI Invest Asset Management Invests $43,000 in PACCAR Inc (NASDAQ:PCAR)

OFI Invest Asset Management purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 432 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of PACCAR during the 4th quarter worth $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR in the 4th quarter valued at about $37,000. Regents Gate Capital LLP purchased a new stake in PACCAR in the 4th quarter valued at about $44,000. Ashton Thomas Securities LLC purchased a new stake in PACCAR in the 3rd quarter valued at about $52,000. Finally, Larson Financial Group LLC raised its holdings in PACCAR by 39.1% in the 4th quarter. Larson Financial Group LLC now owns 548 shares of the company’s stock valued at $57,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Citigroup reduced their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.77.

Insider Transactions at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

Shares of PACCAR stock opened at $110.56 on Tuesday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market cap of $58.02 billion, a PE ratio of 13.98, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The business has a 50-day simple moving average of $107.41 and a 200-day simple moving average of $106.26.

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

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders 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 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.