PACCAR Inc (NASDAQ:PCAR) Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC lowered its position in PACCAR Inc (NASDAQ:PCAR) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,995 shares of the company’s stock after selling 882 shares during the quarter. Signet Financial Management LLC’s holdings in PACCAR were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PCAR. Acadian Asset Management LLC raised its stake in PACCAR by 472.7% during the 2nd quarter. Acadian Asset Management LLC now owns 16,252 shares of the company’s stock valued at $1,671,000 after acquiring an additional 13,414 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR during the second quarter valued at about $36,000. AGF Management Ltd. lifted its holdings in PACCAR by 6.3% in the second quarter. AGF Management Ltd. now owns 21,755 shares of the company’s stock worth $2,239,000 after purchasing an additional 1,280 shares during the period. American Century Companies Inc. lifted its holdings in PACCAR by 15.4% in the second quarter. American Century Companies Inc. now owns 552,135 shares of the company’s stock worth $56,837,000 after purchasing an additional 73,494 shares during the period. Finally, Meeder Asset Management Inc. grew its position 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 buying an additional 205 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 1.5 %

Shares of NASDAQ:PCAR traded up $1.58 during trading on Monday, reaching $108.16. 2,168,879 shares of the company traded hands, compared to its average volume of 2,281,932. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a market cap of $56.71 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. The firm has a fifty day simple moving average of $111.26 and a 200 day simple moving average of $103.81.

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

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is currently 14.75%.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were 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 directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 in the last quarter. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PCAR. Morgan Stanley decreased their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Finally, Truist Financial lifted their target price on PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $118.75.

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.