Greykasell Wealth Strategies Inc. Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Greykasell Wealth Strategies Inc. purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,572 shares of the company's stock, valued at approximately $996,000.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the fourth quarter worth $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the fourth quarter worth $37,000. Atala Financial Inc acquired a new position in shares of PACCAR during the fourth quarter worth $43,000. Regents Gate Capital LLP acquired a new position in shares of PACCAR during the fourth quarter worth $44,000. Finally, OFI Invest Asset Management acquired a new position in shares of PACCAR during the fourth quarter worth $43,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the company'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 directly owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction 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 $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last three months. Corporate insiders own 2.02% of the company's stock.

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PACCAR Stock Down 0.6 %

PCAR traded down $0.62 during midday trading on Wednesday, hitting $99.59. The company had a trading volume of 2,233,432 shares, compared to its average volume of 2,504,358. 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 capitalization of $52.27 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.77 and a beta of 0.91. The stock's 50 day moving average price is $106.86 and its 200 day moving average price is $106.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 return on equity of 23.53% and a net margin of 12.36%. On average, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal 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 given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is presently 16.69%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PCAR shares. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. UBS Group lowered shares of PACCAR from a "buy" rating to a "neutral" rating and dropped their target price for the company from $124.00 to $108.00 in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a report on Tuesday. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Finally, Melius Research upgraded shares of PACCAR to a "strong-buy" rating in a report on Tuesday. Eight 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.23.

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.