Princeton Global Asset Management LLC Purchases 935 Shares of PACCAR Inc (NASDAQ:PCAR)

Princeton Global Asset Management LLC increased its position in PACCAR Inc (NASDAQ:PCAR) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,580 shares of the company’s stock after purchasing an additional 935 shares during the quarter. Princeton Global Asset Management LLC’s holdings in PACCAR were worth $3,077,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PCAR. Madrona Financial Services LLC grew its stake in PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after buying an additional 91 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after acquiring an additional 97 shares during the period. Global Financial Private Client LLC grew its position in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. Omnia Family Wealth LLC increased its stake in shares of PACCAR by 2.5% during the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after purchasing an additional 98 shares during the period. Finally, Grove Bank & Trust lifted its holdings in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Finally, Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.32.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value 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 approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,871 shares of company stock worth $14,586,333. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $110.88 on Monday. The stock has a fifty day moving average of $110.36 and a 200-day moving average of $104.56. The stock has a market capitalization of $58.13 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 2.87 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted 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 return on equity of 23.53% and a net margin of 12.36%. On average, sell-side analysts expect that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 15.17%.

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.