6,000 Shares in PACCAR Inc (NASDAQ:PCAR) Acquired by Smith Group Asset Management LLC

Smith Group Asset Management LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,000 shares of the company’s stock, valued at approximately $624,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP bought a new position in shares of PACCAR during the second quarter valued at $26,000. Grove Bank & Trust raised its position in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after buying an additional 103 shares during the last quarter. Sander Capital Advisors Inc. bought a new position in PACCAR during the 3rd quarter valued at about $50,000. Ashton Thomas Securities LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at about $52,000. Finally, AdvisorNet Financial Inc grew its stake in shares of PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after acquiring an additional 391 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PCAR shares. Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $121.23.

PACCAR Stock Down 2.4 %

NASDAQ PCAR opened at $107.25 on Wednesday. PACCAR Inc has a 52 week low of $90.04 and a 52 week 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 company has a market capitalization of $56.23 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. The stock’s 50-day moving average price is $110.45 and its 200-day moving average price is $104.45.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. On average, equities research analysts predict that PACCAR Inc will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 13.41%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by corporate insiders.

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.