TD Private Client Wealth LLC Increases Stake in PACCAR Inc (NASDAQ:PCAR)

TD Private Client Wealth LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 12.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,610 shares of the company’s stock after buying an additional 287 shares during the quarter. TD Private Client Wealth LLC’s holdings in PACCAR were worth $271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in PACCAR in the 4th quarter worth $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR in the fourth quarter worth about $37,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the fourth quarter worth about $43,000. Atala Financial Inc bought a new position in PACCAR during the fourth quarter valued at approximately $43,000. Finally, Regents Gate Capital LLP purchased a new position in PACCAR during the 4th quarter valued at approximately $44,000. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Truist Financial upped their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Evercore ISI lowered 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. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.23.

PACCAR Stock Performance

PACCAR stock opened at $98.64 on Tuesday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a market capitalization of $51.77 billion, a PE ratio of 12.47, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a 50 day moving average price of $106.10 and a 200-day moving average price of $106.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is currently 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.