Choreo LLC Sells 507 Shares of PACCAR Inc (NASDAQ:PCAR)

Choreo LLC decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,123 shares of the company’s stock after selling 507 shares during the quarter. Choreo LLC’s holdings in PACCAR were worth $2,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. E. Ohman J or Asset Management AB grew its position in shares of PACCAR by 234.6% during the 4th quarter. E. Ohman J or Asset Management AB now owns 23,890 shares of the company’s stock worth $2,485,000 after buying an additional 16,750 shares in the last quarter. Optas LLC grew its position in shares of PACCAR by 4.4% during the 4th quarter. Optas LLC now owns 2,731 shares of the company’s stock worth $284,000 after buying an additional 116 shares in the last quarter. Princeton Global Asset Management LLC grew its position in shares of PACCAR by 3.3% during the 4th quarter. Princeton Global Asset Management LLC now owns 29,580 shares of the company’s stock worth $3,077,000 after buying an additional 935 shares in the last quarter. Valley National Advisers Inc. grew its position in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after buying an additional 106 shares in the last quarter. Finally, Pacific Sage Partners LLC grew its position in shares of PACCAR by 0.8% during the 4th quarter. Pacific Sage Partners LLC now owns 18,167 shares of the company’s stock worth $1,890,000 after buying an additional 150 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.6 %

Shares of NASDAQ:PCAR opened at $107.68 on Friday. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a market cap of $56.46 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.87 and a beta of 0.92. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $109.88 and a 200-day moving average price of $104.55.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts predict that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given 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 dividend payout ratio (DPR) is currently 15.17%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Morgan Stanley dropped their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Citigroup dropped their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.95.

Insider Activity at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is owned by corporate insiders.

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.