Hohimer Wealth Management LLC Has $1.56 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Hohimer Wealth Management LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,853 shares of the company’s stock after buying an additional 292 shares during the quarter. Hohimer Wealth Management LLC’s holdings in PACCAR were worth $1,564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP bought a new position in shares of PACCAR in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. lifted its stake in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in PACCAR during the second quarter worth about $36,000. ORG Partners LLC increased its position in PACCAR by 7,560.0% during the second quarter. ORG Partners LLC now owns 383 shares of the company’s stock worth $39,000 after buying an additional 378 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the period. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on PCAR shares. Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup lifted their target price on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday. Finally, BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $118.25.

Insider Activity

In other news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Up 0.5 %

NASDAQ PCAR opened at $115.37 on Wednesday. The company has a market cap of $60.49 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.82 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $109.82 and a 200-day moving average of $103.70.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the company posted $2.34 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts expect that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

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.