PACCAR Inc (NASDAQ:PCAR) Shares Sold by Optimist Retirement Group LLC

Optimist Retirement Group LLC lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 373,501 shares of the company's stock after selling 4,818 shares during the quarter. PACCAR comprises about 18.4% of Optimist Retirement Group LLC's holdings, making the stock its largest position. Optimist Retirement Group LLC owned 0.07% of PACCAR worth $38,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Grove Bank & Trust increased its position in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Sander Capital Advisors Inc. acquired a new stake in PACCAR during the third quarter worth about $50,000. Ashton Thomas Securities LLC purchased a new position in shares of PACCAR in the 3rd quarter worth about $52,000. AdvisorNet Financial Inc lifted its stake in shares of PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock valued at $59,000 after purchasing an additional 391 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of PACCAR during the 4th quarter worth about $76,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 1.5 %

NASDAQ PCAR traded down $1.66 during mid-day trading on Friday, reaching $106.02. 1,642,471 shares of the company's stock traded hands, compared to its average volume of 2,268,529. The company has a fifty day simple moving average of $109.49 and a 200-day simple moving average of $104.60. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a market cap of $55.59 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, equities research analysts expect that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio is 15.17%.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction 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 $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,871 shares of company stock valued at $14,586,333. Insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research reports. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and raised their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Royal Bank of Canada reissued a "sector perform" rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, PACCAR has an average rating of "Moderate Buy" and a consensus price target of $121.95.

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.