Keel Point LLC Acquires New Position in PACCAR Inc (NASDAQ:PCAR)

Keel Point LLC bought a new position in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,050 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PCAR. OFI Invest Asset Management purchased a new position in PACCAR in the 3rd quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its holdings in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in 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 buying an additional 130 shares in the last quarter. Arlington Trust Co LLC purchased a new position in PACCAR during the 3rd quarter valued at about $30,000. Finally, Achmea Investment Management B.V. purchased a new stake in shares of PACCAR in the first quarter worth about $33,000. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock valued at $15,834,812 over the last three months. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PCAR. Royal Bank of Canada started coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial assumed coverage on PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price objective on the stock. Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Price Performance

Shares of PACCAR stock opened at $115.93 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The business’s 50 day simple moving average is $115.70 and its two-hundred day simple moving average is $100.57. The stock has a market capitalization of $60.75 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.78 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the prior year, the business posted $1.76 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. 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. Investors of record on Thursday, February 15th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

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.