OLD National Bancorp IN Boosts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

OLD National Bancorp IN lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 5.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,941 shares of the company’s stock after purchasing an additional 156 shares during the period. OLD National Bancorp IN’s holdings in PACCAR were worth $306,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PCAR. Quarry LP purchased a new stake in PACCAR during the second quarter valued at about $26,000. Grove Bank & Trust lifted its stake in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares in the last quarter. Sander Capital Advisors Inc. purchased a new stake in shares of PACCAR during the 3rd quarter worth about $50,000. Ashton Thomas Securities LLC acquired a new stake in PACCAR during the 3rd quarter worth approximately $52,000. Finally, AdvisorNet Financial Inc raised its holdings in PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,871 shares of company stock valued at $14,586,333. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Down 1.4 %

PCAR opened at $110.88 on Monday. The stock has a market capitalization of $58.13 billion, a PE ratio of 14.02, a P/E/G ratio of 2.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.03. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The firm’s fifty day moving average price is $110.36 and its 200 day moving average price is $104.56.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts expect that PACCAR Inc will post 7.71 EPS for the current fiscal year.

PACCAR Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Citigroup reduced their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.32.

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.