Van ECK Associates Corp Lowers Stake in PACCAR Inc (NASDAQ:PCAR)

Van ECK Associates Corp lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,757 shares of the company's stock after selling 2,737 shares during the period. Van ECK Associates Corp's holdings in PACCAR were worth $9,545,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the fourth quarter worth $37,000. Regents Gate Capital LLP bought a new stake in PACCAR during the fourth quarter valued at $44,000. Ashton Thomas Securities LLC bought a new stake in PACCAR during the third quarter valued at $52,000. AdvisorNet Financial Inc boosted its position in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock valued at $59,000 after acquiring an additional 391 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in PACCAR during the fourth quarter valued at $64,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 directly owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,547 shares of company stock valued at $17,625,128 in the last three months. Company insiders own 2.02% of the company's stock.

PACCAR Stock Down 0.7 %

PCAR stock traded down $0.75 during trading on Thursday, reaching $106.46. The stock had a trading volume of 1,804,431 shares, compared to its average volume of 2,291,283. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company's 50 day moving average is $107.80 and its two-hundred day moving average is $105.06. The company has a market capitalization of $55.82 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.77 and a beta of 0.92. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Equities research analysts forecast that PACCAR Inc will post 7.57 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 given a dividend of $3.00 per share. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's dividend payout ratio is currently 16.69%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PCAR shares. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Finally, Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and upped their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.77.

PACCAR 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.