Traders Buy Shares of PACCAR (PCAR) on Weakness
Traders bought shares of PACCAR Inc (NASDAQ:PCAR) on weakness during trading hours on Tuesday. $56.31 million flowed into the stock on the tick-up and $24.56 million flowed out of the stock on the tick-down, for a money net flow of $31.75 million into the stock. Of all stocks tracked, PACCAR had the 18th highest net in-flow for the day. PACCAR traded down ($0.03) for the day and closed at $74.83
Several brokerages have issued reports on PCAR. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Tuesday, January 2nd. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, September 26th. Citigroup increased their target price on PACCAR from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, October 13th. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 target price on shares of PACCAR in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the stock. PACCAR currently has an average rating of “Hold” and a consensus target price of $75.05.
The stock has a market cap of $26,060.00, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75.
The firm also recently announced a special dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were given a dividend of $1.20 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, December 13th. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.
In other news, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the sale, the insider now directly owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. Insiders have sold a total of 106,598 shares of company stock worth $7,597,908 over the last 90 days. Insiders own 2.64% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Patriot Wealth Management Inc. acquired a new stake in PACCAR in the 4th quarter worth about $5,357,000. Waverton Investment Management Ltd acquired a new stake in PACCAR in the 4th quarter worth about $808,000. DnB Asset Management AS boosted its holdings in PACCAR by 2.0% in the 4th quarter. DnB Asset Management AS now owns 46,243 shares of the company’s stock worth $3,287,000 after buying an additional 900 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in PACCAR by 3.0% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 763,018 shares of the company’s stock worth $55,197,000 after buying an additional 22,184 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in PACCAR in the 3rd quarter worth approximately $1,144,000. Institutional investors own 62.26% of the company’s stock.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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