Obermeyer Wealth Partners Buys New Shares in PACCAR Inc (NASDAQ:PCAR)

Obermeyer Wealth Partners bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,084 shares of the company's stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCAR. Madrona Financial Services LLC grew its holdings in PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock valued at $837,000 after purchasing an additional 91 shares during the last quarter. Global Financial Private Client LLC grew its holdings in PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. PDS Planning Inc grew its holdings in PACCAR by 3.7% in the fourth 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 last quarter. Valley National Advisers Inc. grew its holdings in PACCAR by 0.6% in the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock valued at $1,982,000 after purchasing an additional 106 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in PACCAR by 14.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock valued at $88,000 after purchasing an additional 107 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Harrie Schippers sold 28,676 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pierre R. Breber bought 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now directly owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Performance

NASDAQ:PCAR traded up $0.12 during mid-day trading on Monday, hitting $96.83. The stock had a trading volume of 453,021 shares, compared to its average volume of 2,771,406. The company's 50 day simple moving average is $93.34 and its 200 day simple moving average is $103.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market cap of $50.83 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results 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 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 analyst estimates of $7.13 billion. During the same quarter last year, the company posted $2.27 earnings per share. The firm's quarterly revenue was down 16.0% on a year-over-year basis. On average, equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be given 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 1.36%. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent analyst reports. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Truist Financial lowered their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada lowered their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Finally, StockNews.com upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PACCAR currently has an average rating of "Hold" and an average price target of $104.14.

PACCAR 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.