Aspire Capital Advisors LLC boosted its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 175.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,004 shares of the company's stock after buying an additional 14,661 shares during the quarter. PACCAR makes up 0.9% of Aspire Capital Advisors LLC's investment portfolio, making the stock its 27th largest holding. Aspire Capital Advisors LLC's holdings in PACCAR were worth $2,246,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in PACCAR in the 3rd quarter valued at $26,000. AdvisorNet Financial Inc increased its position in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of PACCAR by 61.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company's stock valued at $29,000 after purchasing an additional 130 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at $30,000. Finally, Achmea Investment Management B.V. purchased a new stake in shares of PACCAR during the 1st quarter valued at $33,000. 64.90% of the stock is owned by hedge funds and other institutional investors.
PACCAR Price Performance
Shares of NASDAQ PCAR traded up $0.19 during trading hours on Thursday, reaching $118.88. 1,431,530 shares of the stock traded hands, compared to its average volume of 2,293,951. The company has a market capitalization of $62.29 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 1.85 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The company's 50-day simple moving average is $114.64 and its two-hundred day simple moving average is $99.56.
PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion for the quarter, compared to analysts' expectations of $8.48 billion. During the same period in the previous year, the firm earned $1.76 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc will post 8.16 EPS for the current year.
PACCAR Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR's dividend payout ratio is currently 12.31%.
Insider Transactions at PACCAR
In related news, CFO Harrie Schippers sold 32,797 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Harrie Schippers sold 32,797 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares of the company's stock, valued at $10,984,265.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last quarter. 2.02% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PCAR. JPMorgan Chase & Co. raised their target price on PACCAR from $116.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. Evercore ISI increased their price target on PACCAR from $94.00 to $101.00 and gave the stock an "in-line" rating in a research note on Tuesday, February 20th. The Goldman Sachs Group increased their price target on PACCAR from $93.00 to $106.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 24th. Royal Bank of Canada started coverage on PACCAR in a research note on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 price target for the company. Finally, Truist Financial started coverage on PACCAR in a research note on Thursday, March 14th. They set a "hold" rating and a $117.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Moderate Buy" and an average price target of $109.39.
Check Out Our Latest Analysis on PCAR
About PACCAR
(
Free Report)
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.
Further Reading
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