PACCAR Inc (NASDAQ:PCAR) Stake Lessened by Mengis Capital Management Inc.

Mengis Capital Management Inc. trimmed its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,542 shares of the company's stock after selling 49,615 shares during the period. PACCAR accounts for approximately 3.0% of Mengis Capital Management Inc.'s portfolio, making the stock its 4th largest holding. Mengis Capital Management Inc.'s holdings in PACCAR were worth $14,723,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PCAR. Edge Capital Group LLC bought a new position in shares of PACCAR during the 4th quarter worth $1,809,000. IFP Advisors Inc lifted its holdings in PACCAR by 18.3% during the fourth quarter. IFP Advisors Inc now owns 952 shares of the company's stock valued at $99,000 after purchasing an additional 147 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in PACCAR by 116.4% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,559 shares of the company's stock worth $1,618,000 after purchasing an additional 8,368 shares during the period. Howard Capital Management Inc. increased its stake in shares of PACCAR by 5.9% in the fourth quarter. Howard Capital Management Inc. now owns 17,504 shares of the company's stock worth $1,821,000 after purchasing an additional 971 shares in the last quarter. Finally, Navellier & Associates Inc. raised its position in shares of PACCAR by 18.3% in the fourth quarter. Navellier & Associates Inc. now owns 4,771 shares of the company's stock valued at $496,000 after purchasing an additional 739 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Truist Financial raised their price target on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and raised their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI decreased their price target on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.77.

PACCAR Price Performance

PCAR stock traded up $1.74 during mid-day trading on Friday, hitting $107.24. 3,414,439 shares of the stock were exchanged, compared to its average volume of 2,400,988. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock has a market capitalization of $56.28 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.77 and a beta of 0.92. The business has a fifty day moving average price of $107.20 and a 200 day moving average price of $105.53. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS 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%. On average, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

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