ZEGA Investments LLC Invests $1.15 Million in PACCAR Inc (NASDAQ:PCAR)

ZEGA Investments LLC bought a new position in PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 10,500 shares of the company’s stock, valued at approximately $1,154,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PCAR. Wellington Management Group LLP lifted its holdings in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares during the period. JPMorgan Chase & Co. raised its position in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of PACCAR by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock valued at $364,690,000 after buying an additional 61,457 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on PCAR. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius Research raised PACCAR to a “strong-buy” rating in a research note on Tuesday. Truist Financial boosted their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. 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 report on Friday, December 6th. Finally, Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.23.

PACCAR Trading Down 1.2 %

PACCAR stock opened at $97.11 on Friday. The stock has a 50-day moving average price of $106.29 and a 200 day moving average price of $106.40. The company has a market capitalization of $50.96 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. 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 (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. PACCAR’s dividend payout ratio is presently 16.69%.

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.