Easterly Investment Partners LLC Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Easterly Investment Partners LLC increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 59.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,575 shares of the company's stock after buying an additional 4,300 shares during the quarter. Easterly Investment Partners LLC's holdings in PACCAR were worth $1,204,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of PACCAR during the fourth quarter worth $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the 4th quarter valued at $37,000. OFI Invest Asset Management bought a new stake in PACCAR during the 4th quarter worth $43,000. Atala Financial Inc acquired a new position in PACCAR in the 4th quarter worth about $43,000. Finally, Regents Gate Capital LLP bought a new position in PACCAR in the fourth quarter valued at about $44,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company's stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company's stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. 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 quarter. 2.02% of the stock is currently owned by corporate insiders.

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PACCAR Trading Up 0.9 %

Shares of PACCAR stock traded up $0.88 on Tuesday, hitting $98.25. 723,387 shares of the company's stock traded hands, compared to its average volume of 2,646,063. The company has a fifty day moving average of $104.93 and a two-hundred day moving average of $106.74. PACCAR Inc has a one year low of $90.04 and a one year high of $124.39. The company has a market capitalization of $51.57 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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, sell-side 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. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio (DPR) is 16.69%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCAR. UBS Group cut PACCAR from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Evercore ISI decreased their price target on shares of 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 upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Finally, Melius raised PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PACCAR currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.54.

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.