Fortem Financial Group LLC Purchases 747 Shares of PACCAR Inc (NASDAQ:PCAR)

Fortem Financial Group LLC raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,820 shares of the company’s stock after purchasing an additional 747 shares during the period. Fortem Financial Group LLC’s holdings in PACCAR were worth $917,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in PACCAR during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR during the 2nd quarter valued at $36,000. Grove Bank & Trust raised its position in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the period. Finally, Sander Capital Advisors Inc. bought a new stake in PACCAR in the third quarter worth $50,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 2.0 %

PCAR stock traded up $2.13 during trading on Monday, reaching $107.03. The company had a trading volume of 1,285,009 shares, compared to its average volume of 1,508,935. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The business has a 50 day moving average of $110.98 and a 200 day moving average of $103.74. The company has a market cap of $56.12 billion, a P/E ratio of 11.96, a PEG ratio of 1.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 EPS. As a group, sell-side analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 14.75%.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the topic of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley lowered their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial raised their target price on shares of PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $118.50.

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.