Hobbs Group Advisors LLC Has $205,000 Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Hobbs Group Advisors LLC decreased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 11.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,974 shares of the company’s stock after selling 249 shares during the period. Hobbs Group Advisors LLC’s holdings in PACCAR were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PCAR. Allstate Corp bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $1,605,000. Brown Brothers Harriman & Co. lifted its position in PACCAR by 12.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,364 shares of the company’s stock valued at $558,000 after purchasing an additional 602 shares during the period. DnB Asset Management AS boosted its stake in shares of PACCAR by 11.8% in the 4th quarter. DnB Asset Management AS now owns 213,225 shares of the company’s stock valued at $22,180,000 after purchasing an additional 22,506 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of PACCAR by 125.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 397,236 shares of the company’s stock worth $41,320,000 after buying an additional 221,410 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of PACCAR during the fourth quarter worth approximately $4,508,000. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by insiders.

PACCAR Trading Down 1.3 %

PCAR opened at $96.91 on Friday. The firm’s fifty day simple moving average is $105.19 and its 200 day simple moving average is $106.55. The stock has a market capitalization of $50.87 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. 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 Inc has a 12 month low of $90.04 and a 12 month high of $124.39.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate 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, research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. 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 currently 16.69%.

Analyst Ratings Changes

A number of research firms have commented on PCAR. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Citigroup dropped their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. 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 note on Wednesday, February 19th. Finally, Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. 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 company. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

About PACCAR

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.