Insight Wealth Strategies LLC Buys 6,936 Shares of PACCAR Inc (NASDAQ:PCAR)

Insight Wealth Strategies LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,041 shares of the company's stock after acquiring an additional 6,936 shares during the period. Insight Wealth Strategies LLC's holdings in PACCAR were worth $4,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CVA Family Office LLC lifted its stake in PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company's stock valued at $82,000 after acquiring an additional 97 shares in the last quarter. Omnia Family Wealth LLC raised its holdings in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock valued at $394,000 after purchasing an additional 98 shares during the last quarter. Grove Bank & Trust lifted its position in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $46,000 after purchasing an additional 103 shares in the last quarter. Insight Wealth Partners LLC boosted its holdings in PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company's stock worth $760,000 after purchasing an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in PACCAR by 17.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 728 shares of the company's stock worth $72,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the firm's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares in the company, valued at $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 in the last 90 days. Corporate insiders own 2.02% of the company's stock.

Analyst Ratings Changes

PCAR has been the topic of several recent analyst reports. Truist Financial lifted their target price on shares of PACCAR from $107.00 to $110.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $118.50.

PACCAR Price Performance

Shares of PACCAR stock traded up $2.34 on Monday, reaching $107.24. The stock had a trading volume of 2,227,018 shares, compared to its average volume of 1,845,104. The business's 50 day moving average is $110.98 and its two-hundred day moving average is $103.74. The company has a market cap of $56.23 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business's quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.34 EPS. As a group, research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a $3.00 dividend. This is a positive change from PACCAR's previous dividend of $0.89. The ex-dividend date is Friday, December 20th. PACCAR's dividend payout ratio is currently 14.75%.

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.