PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd increased its position in PACCAR Inc (NASDAQ:PCAR) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,897 shares of the company’s stock after acquiring an additional 2,233 shares during the period. Plato Investment Management Ltd’s holdings in PACCAR were worth $2,182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR during the 4th quarter valued at $37,000. Regents Gate Capital LLP acquired a new stake in PACCAR during the 4th quarter valued at $44,000. Ashton Thomas Securities LLC acquired a new stake in PACCAR during the 3rd quarter valued at $52,000. Finally, AdvisorNet Financial Inc grew its holdings in PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 2.1 %

Shares of PACCAR stock opened at $105.02 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a market cap of $55.11 billion, a PE ratio of 13.28, a P/E/G ratio of 2.77 and a beta of 0.92. The business’s fifty day moving average is $107.25 and its two-hundred day moving average is $105.88. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued 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%. Analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors 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 of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased 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. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. 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. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.77.

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.