PACCAR Inc (NASDAQ:PCAR) Stock Position Raised by AdvisorNet Financial Inc

AdvisorNet Financial Inc raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 223.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566 shares of the company’s stock after purchasing an additional 391 shares during the period. AdvisorNet Financial Inc’s holdings in PACCAR were worth $59,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Quarry LP purchased a new stake in shares of PACCAR during the 2nd quarter worth about $26,000. Grove Bank & Trust raised its stake in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares in the last quarter. Sander Capital Advisors Inc. purchased a new stake in shares of PACCAR during the 3rd quarter worth about $50,000. Ashton Thomas Securities LLC purchased a new stake in shares of PACCAR during the 3rd quarter worth about $52,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PACCAR by 17.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 728 shares of the company’s stock worth $72,000 after purchasing an additional 109 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR opened at $110.33 on Friday. The firm has a market capitalization of $57.85 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93. The stock’s 50 day moving average price is $111.10 and its two-hundred day moving average price is $104.03. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter last year, the firm earned $2.34 EPS. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc will post 7.92 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCAR. JPMorgan Chase & Co. raised their price target on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, Citigroup cut their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $120.13.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by corporate insiders.

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.