HighTower Advisors LLC Has $23.04 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

HighTower Advisors LLC lowered its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,513 shares of the company’s stock after selling 10,885 shares during the quarter. HighTower Advisors LLC’s holdings in PACCAR were worth $23,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth about $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR in the 4th quarter valued at approximately $37,000. OFI Invest Asset Management acquired a new stake in PACCAR in the 4th quarter worth approximately $43,000. Regents Gate Capital LLP acquired a new stake in PACCAR in the 4th quarter worth approximately $44,000. Finally, Larson Financial Group LLC lifted its stake in shares of PACCAR by 39.1% in the fourth quarter. Larson Financial Group LLC now owns 548 shares of the company’s stock worth $57,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated 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 transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $99.21 on Friday. The stock has a market cap of $52.07 billion, a PE ratio of 12.54, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock’s 50 day simple moving average is $107.17 and its 200-day simple moving average is $106.26. 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 (NASDAQ:PCAR) last announced its quarterly earnings data 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 net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is presently 16.69%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. 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. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial lifted 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

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.