Advisors Asset Management Inc. Grows Position in PACCAR Inc (NASDAQ:PCAR)

Advisors Asset Management Inc. increased its position in PACCAR Inc (NASDAQ:PCAR) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,628 shares of the company’s stock after purchasing an additional 9,641 shares during the period. Advisors Asset Management Inc.’s holdings in PACCAR were worth $6,411,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s 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 sale, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

Shares of PCAR stock opened at $100.21 on Wednesday. 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 company has a 50 day moving average price of $106.86 and a 200-day moving average price of $106.50. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The firm has a market capitalization of $52.59 billion, a PE ratio of 12.67, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 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 research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current 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 given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 16.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial boosted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and reduced their price target for the company from $124.00 to $108.00 in a report on Tuesday. Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $118.23.

PACCAR Company 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.