Freedom Investment Management Inc. lessened its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 36.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,963 shares of the company's stock after selling 2,900 shares during the quarter. Freedom Investment Management Inc.'s holdings in PACCAR were worth $516,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PCAR. Madrona Financial Services LLC raised its holdings in shares of PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock valued at $837,000 after buying an additional 91 shares during the period. Global Financial Private Client LLC grew its holdings in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after purchasing an additional 97 shares in the last quarter. PDS Planning Inc increased its stake in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company's stock worth $292,000 after buying an additional 101 shares during the period. Valley National Advisers Inc. boosted its position in PACCAR by 0.6% in the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock valued at $1,982,000 after buying an additional 106 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of PACCAR by 14.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock worth $88,000 after acquiring an additional 107 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. Citigroup dropped their price objective on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $108.00 to $78.00 in a report on Monday, April 7th. Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $108.59.
View Our Latest Research Report on PACCAR
Insider Buying and Selling at PACCAR
In related news, CEO R Preston Feight sold 25,200 shares of the company's stock in a transaction that occurred on 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 owns 206,129 shares of the company's stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company's stock.
PACCAR Price Performance
PACCAR stock traded down $0.79 during midday trading on Friday, reaching $91.89. The company's stock had a trading volume of 2,866,574 shares, compared to its average volume of 2,753,045. 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 Inc has a fifty-two week low of $85.05 and a fifty-two week high of $118.81. The firm has a market capitalization of $48.24 billion, a PE ratio of 11.62, a P/E/G ratio of 2.77 and a beta of 0.96. The stock's 50 day simple moving average is $97.84 and its 200 day simple moving average is $105.43.
PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) 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%. On average, equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.
PACCAR Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.44%. This is a positive change from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio (DPR) is 16.69%.
PACCAR Profile
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Free Report)
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.
Further Reading
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