HighPoint Advisor Group LLC Purchases 199 Shares of PACCAR Inc (NASDAQ:PCAR)

HighPoint Advisor Group LLC boosted its position in PACCAR Inc (NASDAQ:PCAR) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,322 shares of the company’s stock after acquiring an additional 199 shares during the quarter. HighPoint Advisor Group LLC’s holdings in PACCAR were worth $1,201,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of PACCAR in the 4th quarter valued at $526,922,000. Wellington Management Group LLP boosted its stake in PACCAR by 53.3% in 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 buying an additional 4,669,172 shares in the last quarter. Madison Investment Advisors LLC bought a new position in PACCAR in the fourth quarter valued at about $254,651,000. JPMorgan Chase & Co. raised its stake in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after acquiring an additional 1,164,692 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of PACCAR by 185.7% in the fourth quarter. KBC Group NV now owns 688,808 shares of the company’s stock worth $71,649,000 after acquiring an additional 447,711 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

Shares of PCAR opened at $98.29 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $104.69 and its two-hundred day simple moving average is $106.76. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $123.20. The stock has a market capitalization of $51.60 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced 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, analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is an increase 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 annualized dividend and a dividend yield of 1.34%. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were 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 owns 61,005 shares of the company’s stock, valued at approximately $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. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last quarter. 2.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup reduced their price objective on PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Eight equities research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.54.

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.