Kennondale Capital Management LLC Purchases Shares of 15,601 PACCAR Inc (NASDAQ:PCAR)

Kennondale Capital Management LLC purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, Holdings Channel.com reports. The firm purchased 15,601 shares of the company’s stock, valued at approximately $1,623,000. PACCAR comprises about 1.3% of Kennondale Capital Management LLC’s holdings, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. Golden State Wealth Management LLC bought a new position in PACCAR during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $37,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $43,000. Atala Financial Inc purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $43,000. Finally, Regents Gate Capital LLP purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $44,000. 64.90% of the stock is currently owned by institutional investors.

Insider Transactions at PACCAR

In other 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 $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PCAR shares. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Evercore ISI reduced their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Truist Financial lifted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.35.

PACCAR Stock Up 2.0 %

PCAR stock opened at $101.17 on Tuesday. The business’s 50-day moving average price is $107.05 and its 200-day moving average price is $106.47. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The stock has a market cap of $53.09 billion, a P/E ratio of 12.79, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly 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, equities research analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued 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%.

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.