PACCAR Inc (NASDAQ:PCAR) Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 2.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,062 shares of the company’s stock after selling 164 shares during the quarter. Signet Financial Management LLC’s holdings in PACCAR were worth $787,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC lifted its position in shares of PACCAR by 31.1% in the 4th quarter. SVB Wealth LLC now owns 4,138 shares of the company’s stock worth $404,000 after buying an additional 981 shares during the last quarter. Eads & Heald Wealth Management lifted its position in shares of PACCAR by 54.6% in the 4th quarter. Eads & Heald Wealth Management now owns 8,845 shares of the company’s stock worth $864,000 after buying an additional 3,125 shares during the last quarter. Keel Point LLC bought a new position in shares of PACCAR in the 4th quarter worth about $200,000. Beverly Hills Private Wealth LLC bought a new position in shares of PACCAR in the 4th quarter worth about $547,000. Finally, Howard Capital Management Inc. bought a new position in shares of PACCAR in the 4th quarter worth about $2,192,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target on the stock. Royal Bank of Canada assumed coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. The Goldman Sachs Group lifted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Stock Down 0.4 %

PCAR stock opened at $117.54 on Wednesday. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The company has a market capitalization of $61.59 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The firm’s 50-day moving average is $115.48 and its two-hundred day moving average is $100.46. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. PACCAR’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 EPS. On average, analysts forecast that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.92%. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock valued at $15,834,812 in the last quarter. Insiders own 2.02% of the company’s stock.

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.