Twin Capital Management Inc. Sells 405 Shares of PACCAR Inc (NASDAQ:PCAR)

Twin Capital Management Inc. lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,069 shares of the company’s stock after selling 405 shares during the quarter. Twin Capital Management Inc.’s holdings in PACCAR were worth $2,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in shares of PACCAR in the third quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its position in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. ST Germain D J Co. Inc. raised its position in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. Arlington Trust Co LLC bought a new position in PACCAR during the third quarter worth $30,000. Finally, Achmea Investment Management B.V. bought a new position in PACCAR during the first quarter worth $33,000. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PCAR shares. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. The Goldman Sachs Group boosted their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Morgan Stanley began coverage on PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective for the company. Finally, TD Cowen raised their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.82.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Down 1.9 %

Shares of PACCAR stock opened at $113.76 on Friday. The business has a fifty day simple moving average of $115.86 and a two-hundred day simple moving average of $100.66. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The company has a market capitalization of $59.61 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.74 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the firm posted $1.76 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts forecast that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

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.