ABC Arbitrage SA Buys New Stake in PACCAR Inc (NASDAQ:PCAR)

ABC Arbitrage SA bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,266 shares of the company’s stock, valued at approximately $1,484,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCAR. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the fourth quarter worth $37,000. Regents Gate Capital LLP purchased a new position in shares of PACCAR in the fourth quarter worth $44,000. Sander Capital Advisors Inc. purchased a new position in shares of PACCAR in the third quarter worth $50,000. Ashton Thomas Securities LLC purchased a new position in shares of PACCAR in the third quarter worth $52,000. Finally, AdvisorNet Financial Inc raised its holdings in shares of PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after buying an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 0.7 %

PCAR stock opened at $105.96 on Friday. The firm has a market cap of $55.55 billion, a PE ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. The firm’s fifty day moving average is $108.32 and its 200 day moving average is $104.79. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results 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 net margin of 12.36% and a return on equity of 23.53%. On average, research analysts forecast that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 15.17%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PCAR shares. 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 report on Wednesday, October 23rd. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial increased their price objective 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 lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective 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. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.95.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % 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, CEO R Preston Feight sold 25,200 shares of PACCAR 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 130,871 shares of company stock worth $14,586,333 over the last 90 days. 2.02% of the stock is currently 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.