Freestone Capital Holdings LLC Boosts Position in PACCAR Inc (NASDAQ:PCAR)

Freestone Capital Holdings LLC boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,036 shares of the company’s stock after acquiring an additional 591 shares during the quarter. Freestone Capital Holdings LLC’s holdings in PACCAR were worth $836,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PCAR. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the 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 transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, 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 three months, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $106.89 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The stock has a 50-day moving average price of $107.16 and a 200 day moving average price of $105.91. The stock has a market capitalization of $56.10 billion, a P/E ratio of 13.51, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its earnings results 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%. Equities research analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 16.69%.

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.