FourThought Financial Partners LLC Acquires Shares of 2,964 PACCAR Inc (NASDAQ:PCAR)

FourThought Financial Partners LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,964 shares of the company's stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. Private Advisor Group LLC lifted its position in shares of PACCAR by 20.6% in the third quarter. Private Advisor Group LLC now owns 26,118 shares of the company's stock worth $2,577,000 after buying an additional 4,457 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of PACCAR by 7,540.3% during the 3rd quarter. International Assets Investment Management LLC now owns 289,034 shares of the company's stock worth $28,522,000 after purchasing an additional 285,251 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of PACCAR by 1.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 213,294 shares of the company's stock worth $21,048,000 after purchasing an additional 2,920 shares during the last quarter. abrdn plc lifted its position in shares of PACCAR by 7.4% during the 3rd quarter. abrdn plc now owns 247,516 shares of the company's stock worth $24,283,000 after purchasing an additional 17,084 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of PACCAR by 111.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,649 shares of the company's stock worth $656,000 after purchasing an additional 3,498 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PCAR. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Evercore ISI cut their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Truist Financial boosted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $121.77.

PACCAR Price Performance

Shares of PCAR stock traded up $1.74 during trading hours on Friday, hitting $107.24. The company had a trading volume of 3,414,439 shares, compared to its average volume of 2,400,988. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The firm has a market capitalization of $56.28 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.77 and a beta of 0.92. The firm's fifty day moving average is $107.24 and its 200 day moving average is $105.64. 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 (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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, sell-side analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio is 16.69%.

Insider Buying and Selling

In related news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on 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 owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. 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 in the last three months. Insiders own 2.02% of the company's stock.

About PACCAR

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.