PFG Advisors Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

PFG Advisors grew its stake in PACCAR Inc (NASDAQ:PCAR) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,793 shares of the company’s stock after buying an additional 384 shares during the quarter. PFG Advisors’ holdings in PACCAR were worth $499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCAR. Wellington Management Group LLP grew its position in shares of PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 valued at $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock valued at $364,690,000 after purchasing an additional 61,457 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last quarter. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of PCAR opened at $99.21 on Friday. The stock has a 50-day moving average of $107.17 and a two-hundred day moving average of $106.26. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. 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 stock has a market cap of $52.07 billion, a P/E ratio of 12.54, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results 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%. As a group, research analysts predict that PACCAR Inc will post 7.57 EPS for the current 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 issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 16.69%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PCAR. Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Citigroup reduced their price objective on 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. lifted their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Finally, Evercore ISI cut their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

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.