PACCAR Inc (NASDAQ:PCAR) Shares Bought by IFP Advisors Inc

IFP Advisors Inc increased its stake in PACCAR Inc (NASDAQ:PCAR) by 18.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 952 shares of the company’s stock after purchasing an additional 147 shares during the period. IFP Advisors Inc’s holdings in PACCAR were worth $99,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PCAR. Wellington Management Group LLP boosted its stake in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after acquiring an additional 3,296,146 shares during the period. JPMorgan Chase & Co. lifted its stake in PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the period. Erste Asset Management GmbH acquired a new stake in PACCAR during the 3rd quarter valued at approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after acquiring an additional 576,532 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $101.48 on Wednesday. The firm has a market cap of $53.26 billion, a PE ratio of 12.83, a PEG ratio of 2.77 and a beta of 0.92. The firm has a fifty day moving average of $107.17 and a 200 day moving average of $105.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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%. As a group, research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced 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. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 16.69%.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction 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 owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on PCAR shares. Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Evercore ISI decreased their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.77.

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.