Appian Way Asset Management LP Takes $8.31 Million Position in PACCAR Inc (NASDAQ:PCAR)

Appian Way Asset Management LP bought a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 79,923 shares of the company's stock, valued at approximately $8,314,000. PACCAR accounts for approximately 1.7% of Appian Way Asset Management LP's investment portfolio, making the stock its 13th largest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Morse Asset Management Inc acquired a new stake in PACCAR during the third quarter worth approximately $370,000. McIlrath & Eck LLC increased its stake in PACCAR by 16.0% during the 3rd quarter. McIlrath & Eck LLC now owns 28,064 shares of the company's stock worth $2,769,000 after acquiring an additional 3,878 shares during the period. World Investment Advisors LLC acquired a new position in PACCAR in the 3rd quarter valued at $419,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of PACCAR during the 3rd quarter valued at $269,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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. This represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

PCAR traded up $0.12 on Friday, reaching $89.90. The stock had a trading volume of 3,729,160 shares, compared to its average volume of 2,754,165. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $47.19 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm has a 50-day moving average of $95.97 and a 200-day moving average of $104.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period in the prior year, the company earned $2.27 EPS. The business's quarterly revenue was down 16.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.47%. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research report on Wednesday, April 16th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $105.00 to $90.00 in a research report on Wednesday. Finally, Truist Financial reduced their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PACCAR currently has an average rating of "Hold" and an average target price of $107.23.

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.