Kennondale Capital Management LLC Buys New Position in PACCAR Inc (NASDAQ:PCAR)

Kennondale Capital Management LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,601 shares of the company's stock, valued at approximately $1,623,000. PACCAR accounts for 1.3% of Kennondale Capital Management LLC's portfolio, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in PACCAR in the 4th quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. boosted its holdings in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after acquiring an additional 6,494 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock valued at $2,962,000 after buying an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC boosted its stake in shares of PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock valued at $4,061,000 after buying an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after buying an additional 89,245 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

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Insiders Place Their Bets

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value 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 approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares of the company's stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 over the last three months. Company insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PCAR shares. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Evercore ISI reduced their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. 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, PACCAR presently has a consensus rating of "Moderate Buy" and an average target price of $118.23.

PACCAR Stock Performance

NASDAQ PCAR traded down $1.21 during trading hours on Friday, hitting $97.11. The company had a trading volume of 8,554,751 shares, compared to its average volume of 2,530,202. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two 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 business has a fifty day simple moving average of $106.29 and a 200-day simple moving average of $106.40. The firm has a market cap of $50.96 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results 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 return on equity of 23.53% and a net margin of 12.36%. Equities analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

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.