Sagespring Wealth Partners LLC Takes Position in PACCAR Inc (NASDAQ:PCAR)

Sagespring Wealth Partners LLC bought a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,131 shares of the company's stock, valued at approximately $742,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Principal Financial Group Inc. grew its stake in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after buying an additional 178,813 shares during the last quarter. Morse Asset Management Inc bought a new stake in PACCAR during the third quarter valued at about $370,000. McIlrath & Eck LLC grew its position in shares of PACCAR by 16.0% in the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company's stock valued at $2,769,000 after purchasing an additional 3,878 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock worth $2,962,000 after purchasing an additional 5,871 shares during the period. Finally, World Investment Advisors LLC acquired a new position in shares of PACCAR during the 3rd quarter worth about $419,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value 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 approximately $6,805,717.80. The trade was a 62.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company's stock.

PACCAR Price Performance

Shares of PCAR traded up $1.36 during mid-day trading on Friday, reaching $88.17. The company had a trading volume of 2,444,557 shares, compared to its average volume of 2,752,825. 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 company has a market capitalization of $46.28 billion, a P/E ratio of 11.15, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a twelve month low of $85.10 and a twelve month high of $118.81. The company's 50-day moving average is $99.45 and its 200-day moving average is $105.82.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data 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 analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.50%. PACCAR's payout ratio is 16.69%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America raised 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 research report on Tuesday, January 14th. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. UBS Group downgraded shares of PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $108.59.

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.