PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Easterly Investment Partners LLC

Easterly Investment Partners LLC raised its holdings in PACCAR Inc (NASDAQ:PCAR) by 59.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,575 shares of the company’s stock after buying an additional 4,300 shares during the period. Easterly Investment Partners LLC’s holdings in PACCAR were worth $1,204,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Everence Capital Management Inc. acquired a new stake in shares of PACCAR during the fourth quarter worth about $1,984,000. Cullen Frost Bankers Inc. grew its stake in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after purchasing an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC grew its position in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after buying an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC increased its stake in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares during the period. Finally, Versant Capital Management Inc raised its position in PACCAR by 19.3% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after buying an additional 214 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PCAR. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Evercore ISI reduced their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.38.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR 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 completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $98.19 on Friday. 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 Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a fifty day moving average price of $105.45 and a two-hundred day moving average price of $106.54. The company has a market cap of $51.54 billion, a PE ratio of 12.41, a P/E/G 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 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%. Research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.34%. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

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.