WealthPlan Investment Management LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

WealthPlan Investment Management LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,263 shares of the company’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Everence Capital Management Inc. purchased a new stake in shares of PACCAR during the fourth quarter worth about $1,984,000. Sanctuary Advisors LLC increased its position in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. increased its position in shares of PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after acquiring an additional 5,433 shares during the last quarter. Insight Wealth Strategies LLC increased its position in shares of PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $105.96 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $108.32 and a 200-day simple moving average of $104.79. The company has a market cap of $55.55 billion, a PE ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

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

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. 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 15.17%.

Insiders Place Their Bets

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction 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 $6,805,717.80. The trade was a 62.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,871 shares of company stock worth $14,586,333 over the last ninety days. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PCAR. JPMorgan Chase & Co. boosted their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, Truist Financial boosted their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

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.