NorthRock Partners LLC Purchases New Stake in PACCAR Inc (NASDAQ:PCAR)

NorthRock Partners LLC purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,430 shares of the company's stock, valued at approximately $565,000.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in PACCAR during the fourth quarter worth $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the 4th quarter valued at $37,000. Atala Financial Inc bought a new position in shares of PACCAR in the 4th quarter valued at $43,000. Finally, Regents Gate Capital LLP bought a new position in shares of PACCAR in the 4th quarter valued at $44,000. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PCAR. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Evercore ISI dropped their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Royal Bank of Canada decreased their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Finally, Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $104.14.

PACCAR Trading Down 0.5%

NASDAQ PCAR traded down $0.51 during trading hours on Tuesday, reaching $96.50. The company's stock had a trading volume of 1,860,446 shares, compared to its average volume of 2,774,515. The firm has a fifty day simple moving average of $93.23 and a 200-day simple moving average of $103.81. The stock has a market cap of $50.66 billion, a P/E ratio of 12.20, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

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

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR's dividend payout ratio is currently 20.00%.

Insider Activity

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director now directly owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.02% of the company's stock.

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.