ABC Arbitrage SA Makes New $1.48 Million Investment in PACCAR Inc (NASDAQ:PCAR)

ABC Arbitrage SA acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,266 shares of the company's stock, valued at approximately $1,484,000.

A number of other hedge funds have also recently bought and sold shares of PCAR. Golden State Wealth Management LLC purchased a new position in PACCAR in the fourth quarter valued at approximately $37,000. Regents Gate Capital LLP bought a new position in shares of PACCAR during the 4th quarter worth $44,000. Sander Capital Advisors Inc. purchased a new stake in PACCAR in the 3rd quarter worth about $50,000. Ashton Thomas Securities LLC bought a new stake in PACCAR in the 3rd quarter valued at about $52,000. Finally, AdvisorNet Financial Inc boosted its position in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock worth $59,000 after purchasing an additional 391 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Up 0.6 %

NASDAQ:PCAR traded up $0.67 during trading hours on Wednesday, hitting $107.21. The company had a trading volume of 1,870,606 shares, compared to its average volume of 2,303,779. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a market capitalization of $56.21 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.75 and a beta of 0.92. The stock has a 50-day moving average price of $107.97 and a 200 day moving average price of $105.04.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (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%. On average, equities research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. This is a boost 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%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research note on Wednesday. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Finally, Truist Financial boosted 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PACCAR presently has an average rating of "Moderate Buy" and a consensus target price of $121.77.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value 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 trade represents a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,547 shares of company stock worth $17,625,128. 2.02% of the stock is owned by corporate insiders.

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.