Advisors Asset Management Inc. Raises Position in PACCAR Inc (NASDAQ:PCAR)

Advisors Asset Management Inc. raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 18.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,628 shares of the company’s stock after buying an additional 9,641 shares during the quarter. Advisors Asset Management Inc.’s holdings in PACCAR were worth $6,411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PCAR. Golden State Wealth Management LLC purchased a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the 4th quarter worth approximately $37,000. Atala Financial Inc bought a new position in shares of PACCAR in the 4th quarter worth $43,000. Regents Gate Capital LLP purchased a new stake in shares of PACCAR during the 4th quarter valued at $44,000. Finally, OFI Invest Asset Management bought a new stake in shares of PACCAR during the 4th quarter worth $43,000. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 0.9 %

Shares of NASDAQ PCAR opened at $100.21 on Wednesday. The firm’s fifty day moving average is $106.86 and its 200 day moving average is $106.50. 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. The company has a market cap of $52.59 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data 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 net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a positive change 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 presently 16.69%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America upgraded 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 research report on Tuesday, January 14th. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. 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. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $118.23.

PACCAR 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.