Twin Tree Management LP Purchases 38,276 Shares of PACCAR Inc (NASDAQ:PCAR)

Twin Tree Management LP boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 42.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,306 shares of the company’s stock after acquiring an additional 38,276 shares during the period. Twin Tree Management LP’s holdings in PACCAR were worth $13,450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares during the last quarter. Swiss National Bank grew its position in PACCAR by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,555,625 shares of the company’s stock worth $153,509,000 after purchasing an additional 4,100 shares during the last quarter. Quest Partners LLC increased its stake in PACCAR by 45,433.3% during the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock valued at $270,000 after purchasing an additional 2,726 shares in the last quarter. Caprock Group LLC raised its holdings in shares of PACCAR by 18.4% in the third quarter. Caprock Group LLC now owns 24,728 shares of the company’s stock worth $2,440,000 after buying an additional 3,835 shares during the last quarter. Finally, LGT Capital Partners LTD. lifted its stake in shares of PACCAR by 32.0% during the third quarter. LGT Capital Partners LTD. now owns 574,965 shares of the company’s stock worth $56,738,000 after buying an additional 139,270 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PCAR shares. Evercore ISI reduced their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial increased their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average target price of $120.35.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Up 2.0 %

PCAR stock opened at $101.17 on Tuesday. 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 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a market cap of $53.09 billion, a P/E ratio of 12.79, a PEG ratio of 2.77 and a beta of 0.91. The company’s 50-day simple moving average is $107.05 and its 200-day simple moving average is $106.47.

PACCAR (NASDAQ:PCAR) last announced its 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 return on equity of 23.53% and a net margin of 12.36%. As a group, equities analysts forecast that PACCAR Inc will post 7.57 EPS 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 $3.00 dividend. 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 presently 16.69%.

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.