Gallo Partners LP Invests $1.20 Million in PACCAR Inc (NASDAQ:PCAR)

Gallo Partners LP bought a new stake in PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,515 shares of the company's stock, valued at approximately $1,198,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Madrona Financial Services LLC grew its position in PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock worth $837,000 after purchasing an additional 91 shares in the last quarter. Global Financial Private Client LLC boosted its holdings in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after acquiring an additional 97 shares during the period. PDS Planning Inc increased its holdings in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company's stock valued at $292,000 after purchasing an additional 101 shares during the period. Valley National Advisers Inc. grew its holdings in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after acquiring an additional 106 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in PACCAR by 14.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock valued at $88,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PCAR shares. Melius Research set a $120.00 target price on shares of PACCAR in a report 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. Citigroup reduced their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. StockNews.com lowered shares of PACCAR from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Bank of America upgraded 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $107.23.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of PACCAR 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

PACCAR Trading Up 0.1 %

NASDAQ PCAR traded up $0.12 during trading hours on Friday, hitting $89.90. 3,729,160 shares of the company's stock were exchanged, compared to its average volume of 2,758,745. 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 1-year low of $84.65 and a 1-year high of $118.81. The stock has a 50-day simple moving average of $95.97 and a 200 day simple moving average of $104.82. The firm has a market cap of $47.19 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 2.77 and a beta of 0.96.

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

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.47%. PACCAR's dividend payout ratio is 16.69%.

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.