Easterly Investment Partners LLC Has $1.20 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Easterly Investment Partners LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 59.1% during the fourth quarter, HoldingsChannel reports. The firm owned 11,575 shares of the company’s stock after acquiring an additional 4,300 shares during the period. Easterly Investment Partners LLC’s holdings in PACCAR were worth $1,204,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PCAR. Madrona Financial Services LLC increased its position in PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after purchasing an additional 91 shares during the last quarter. Global Financial Private Client LLC increased its holdings in PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the last quarter. PDS Planning Inc raised its position in PACCAR by 3.7% during the fourth quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after acquiring an additional 101 shares in the last quarter. Valley National Advisers Inc. lifted its stake in PACCAR by 0.6% in the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after acquiring an additional 106 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in PACCAR by 14.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock worth $88,000 after acquiring an additional 107 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

NASDAQ:PCAR opened at $98.19 on Friday. The firm’s 50-day moving average is $105.45 and its 200-day moving average is $106.54. The company has a market cap of $51.54 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 2.77 and a beta of 0.91. 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 Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts anticipate 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. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.34%. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is 16.69%.

Insider Activity

In related news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Finally, Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.38.

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.