Leonard Rickey Investment Advisors P.L.L.C. Has $225,000 Stake in PACCAR Inc (NASDAQ:PCAR)

Leonard Rickey Investment Advisors P.L.L.C. decreased its stake in PACCAR Inc (NASDAQ:PCARFree Report) by 24.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,307 shares of the company’s stock after selling 744 shares during the period. Leonard Rickey Investment Advisors P.L.L.C.’s holdings in PACCAR were worth $225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in PACCAR by 49.0% in the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after purchasing an additional 7,020,923 shares in the last quarter. Geode Capital Management LLC raised its stake in PACCAR by 53.3% during the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock worth $858,948,000 after buying an additional 4,082,677 shares during the period. Norges Bank bought a new position in PACCAR in the fourth quarter worth approximately $323,885,000. Wellington Management Group LLP grew its stake in PACCAR by 249.2% in the first quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company’s stock valued at $338,663,000 after acquiring an additional 2,744,040 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of PACCAR by 2,578.2% during the first quarter. Mercer Global Advisors Inc. ADV now owns 2,292,972 shares of the company’s stock valued at $167,846,000 after acquiring an additional 2,207,357 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following 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 SEC, which is available at this link. Also, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders have sold 153,496 shares of company stock worth $15,834,812. Company insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PCAR shares. The Goldman Sachs Group increased their target price on PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Morgan Stanley started coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. Royal Bank of Canada initiated coverage on shares of PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. Truist Financial began coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.39.

Get Our Latest Research Report on PACCAR

PACCAR Stock Performance

PCAR traded down $0.81 during midday trading on Wednesday, reaching $120.79. The company had a trading volume of 1,606,721 shares, compared to its average volume of 2,295,727. PACCAR Inc has a 12-month low of $67.48 and a 12-month high of $125.50. The business has a 50-day moving average price of $112.00 and a two-hundred day moving average price of $98.03. The stock has a market cap of $63.30 billion, a PE ratio of 13.75, a P/E/G ratio of 1.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $8.48 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. PACCAR’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that PACCAR Inc will post 8.15 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. PACCAR’s payout ratio is 12.31%.

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.

See Also

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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