Y Intercept Hong Kong Ltd Raises Stock Position in PACCAR Inc (NASDAQ:PCAR)

Y Intercept Hong Kong Ltd grew its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 116.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,559 shares of the company's stock after purchasing an additional 8,368 shares during the period. Y Intercept Hong Kong Ltd's holdings in PACCAR were worth $1,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PCAR. Golden State Wealth Management LLC purchased a new stake in PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR during the fourth quarter worth about $37,000. Regents Gate Capital LLP purchased a new stake in PACCAR during the fourth quarter worth about $44,000. Ashton Thomas Securities LLC purchased a new stake in PACCAR during the third quarter worth about $52,000. Finally, AdvisorNet Financial Inc increased its holdings in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock worth $59,000 after buying an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Price Performance

Shares of PCAR stock traded up $1.74 during trading hours on Friday, reaching $107.24. The stock had a trading volume of 3,414,439 shares, compared to its average volume of 2,400,988. The stock's fifty day simple moving average is $107.24 and its 200 day simple moving average is $105.64. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The firm has a market capitalization of $56.28 billion, a PE ratio of 13.56, a PEG ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its 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 net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts predict 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. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is presently 16.69%.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR 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 sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $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 three months. 2.02% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PCAR. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and increased their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI cut their target price 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. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock 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 target price for the company. in a research report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.