Perigon Wealth Management LLC Buys 3,963 Shares of PACCAR Inc (NASDAQ:PCAR)

Perigon Wealth Management LLC boosted its position in PACCAR Inc (NASDAQ:PCAR) by 140.6% during the fourth quarter, Holdings Channel reports. The fund owned 6,782 shares of the company’s stock after acquiring an additional 3,963 shares during the period. Perigon Wealth Management LLC’s holdings in PACCAR were worth $742,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fortitude Advisory Group L.L.C. raised its stake in shares of PACCAR by 0.8% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 31,456 shares of the company’s stock worth $3,272,000 after acquiring an additional 242 shares in the last quarter. Nilsine Partners LLC raised its position in PACCAR by 8.0% in the 4th quarter. Nilsine Partners LLC now owns 31,936 shares of the company’s stock worth $3,322,000 after purchasing an additional 2,371 shares during the period. Pacer Advisors Inc. lifted its stake in PACCAR by 6.4% in the fourth quarter. Pacer Advisors Inc. now owns 69,019 shares of the company’s stock worth $7,179,000 after purchasing an additional 4,173 shares during the last quarter. KBC Group NV boosted its position in PACCAR by 185.7% during the fourth quarter. KBC Group NV now owns 688,808 shares of the company’s stock valued at $71,649,000 after buying an additional 447,711 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of PACCAR by 16.0% during the fourth quarter. Blue Trust Inc. now owns 4,427 shares of the company’s stock valued at $437,000 after buying an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $110.88 on Friday. The company has a 50-day simple moving average of $110.44 and a two-hundred day simple moving average of $104.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.03. The firm has a market capitalization of $58.13 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 2.83 and a beta of 0.93. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, analysts anticipate that PACCAR Inc will post 7.71 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 15.17%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of recent research reports. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley lowered their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.32.

Insider Buying and Selling

In other news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,871 shares of company stock worth $14,586,333 in the last three months. 2.02% of the stock is owned by corporate insiders.

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.