Norden Group LLC Boosts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Norden Group LLC grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,251 shares of the company’s stock after purchasing an additional 118 shares during the period. Norden Group LLC’s holdings in PACCAR were worth $338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in PACCAR during the fourth quarter worth approximately $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR during the fourth quarter worth approximately $37,000. Regents Gate Capital LLP purchased a new stake in shares of PACCAR during the 4th quarter worth approximately $44,000. Ashton Thomas Securities LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at $52,000. Finally, AdvisorNet Financial Inc grew its position in shares of PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’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 completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 over the last three months. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

Shares of PCAR opened at $101.48 on Wednesday. The stock has a market capitalization of $53.26 billion, a P/E ratio of 12.83, a P/E/G ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company’s fifty day moving average is $107.17 and its two-hundred day moving average is $105.93.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (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, sell-side analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is 16.69%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research reports. Citigroup reduced their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI dropped their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Truist Financial increased their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

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.