Signaturefd LLC Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

Signaturefd LLC trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,349 shares of the company’s stock after selling 178 shares during the quarter. Signaturefd LLC’s holdings in PACCAR were worth $660,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new stake in shares of PACCAR during the fourth quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. increased its position in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after purchasing an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Insight Wealth Strategies LLC increased its position in shares of PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of PACCAR stock opened at $99.59 on Thursday. The business has a 50-day moving average of $106.68 and a 200 day moving average of $106.45. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market capitalization of $52.27 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last announced 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%. As a group, sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors 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 (DPR) is 16.69%.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent research reports. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Melius Research raised PACCAR to a “strong-buy” rating in a research note on Tuesday. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $118.23.

Insider Activity at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last three months. 2.02% of the stock is owned by company insiders.

About PACCAR

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.