Mirabella Financial Services LLP Takes $2.15 Million Position in PACCAR Inc (NASDAQ:PCAR)

Mirabella Financial Services LLP purchased a new stake in PACCAR Inc (NASDAQ:PCAR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,707 shares of the company's stock, valued at approximately $2,152,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PCAR. Meeder Asset Management Inc. increased its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the 4th quarter worth about $37,000. Atala Financial Inc purchased a new stake in PACCAR in the 4th quarter valued at about $43,000. Finally, Regents Gate Capital LLP acquired a new position in shares of PACCAR during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 206,129 shares of the company's stock, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last 90 days. Insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PCAR. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and boosted their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a research report on Wednesday, April 16th. Citigroup lowered their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Evercore ISI cut their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their target price on PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has an average rating of "Hold" and a consensus target price of $108.59.

PACCAR Stock Up 4.0 %

Shares of PCAR stock traded up $3.60 on Thursday, hitting $92.68. The stock had a trading volume of 2,874,587 shares, compared to its average volume of 2,753,030. The stock's 50 day moving average is $98.11 and its 200-day moving average is $105.50. The firm has a market capitalization of $48.65 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52-week low of $85.05 and a 52-week high of $118.81. 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 posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.42%. PACCAR's dividend payout ratio (DPR) is 16.69%.

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.