Journey Strategic Wealth LLC Takes $276,000 Position in PACCAR Inc (NASDAQ:PCAR)

Journey Strategic Wealth LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,651 shares of the company’s stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Tokio Marine Asset Management Co. Ltd. raised its stake in PACCAR by 508.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 89,865 shares of the company’s stock valued at $9,348,000 after purchasing an additional 75,090 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in PACCAR by 28.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,533 shares of the company’s stock valued at $910,000 after purchasing an additional 1,884 shares during the last quarter. Caprock Group LLC raised its stake in PACCAR by 1.7% in the 4th quarter. Caprock Group LLC now owns 25,146 shares of the company’s stock valued at $2,691,000 after purchasing an additional 418 shares during the last quarter. Hamilton Point Investment Advisors LLC acquired a new position in shares of PACCAR during the 4th quarter valued at about $209,000. Finally, Norris Perne & French LLP MI increased its stake in shares of PACCAR by 40.1% during the 4th quarter. Norris Perne & French LLP MI now owns 219,302 shares of the company’s stock valued at $22,812,000 after acquiring an additional 62,803 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a legal 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 on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. 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 Stock Down 1.6 %

NASDAQ PCAR opened at $109.13 on Tuesday. The stock has a market cap of $57.22 billion, a PE ratio of 13.80, a P/E/G ratio of 2.87 and a beta of 0.93. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The business has a 50 day moving average price of $110.36 and a two-hundred day moving average price of $104.53. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its 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 net margin of 12.36% and a return on equity of 23.53%. As a group, sell-side analysts predict that PACCAR Inc will post 7.6 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 paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is 16.69%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley dropped their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Seven 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, PACCAR presently has a consensus rating of “Moderate Buy” and an average target price of $121.95.

PACCAR Company 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.