Synergy Asset Management LLC Has $993,000 Holdings in PACCAR Inc. $PCAR

Synergy Asset Management LLC lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 291.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,272 shares of the company’s stock after buying an additional 7,651 shares during the quarter. Synergy Asset Management LLC’s holdings in PACCAR were worth $993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JT Stratford LLC acquired a new stake in shares of PACCAR during the 2nd quarter worth approximately $1,301,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of PACCAR by 77.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock valued at $22,631,000 after acquiring an additional 103,664 shares during the period. Assenagon Asset Management S.A. boosted its stake in PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after acquiring an additional 88,551 shares in the last quarter. Coppell Advisory Solutions LLC grew its holdings in PACCAR by 1,314.8% in the first quarter. Coppell Advisory Solutions LLC now owns 13,200 shares of the company’s stock worth $1,285,000 after purchasing an additional 12,267 shares during the period. Finally, Nordea Investment Management AB grew its holdings in PACCAR by 23.0% in the second quarter. Nordea Investment Management AB now owns 100,480 shares of the company’s stock worth $9,534,000 after purchasing an additional 18,767 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on PCAR. Truist Financial upped their price objective on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $125.00 price target on shares of PACCAR in a research note on Friday, December 5th. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus target price of $111.04.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $111.56 on Friday. The stock has a market cap of $58.59 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 13.88 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $115.43. The firm’s 50-day simple moving average is $105.04 and its 200 day simple moving average is $100.30.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 earnings per share. As a group, research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.2%. PACCAR’s dividend payout ratio is 25.83%.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.