Horizon Investments LLC Buys 297 Shares of PACCAR Inc (NASDAQ:PCAR)

Horizon Investments LLC increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,955 shares of the company’s stock after acquiring an additional 297 shares during the quarter. Horizon Investments LLC’s holdings in PACCAR were worth $1,660,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Madrona Financial Services LLC increased its stake in PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after buying an additional 91 shares during the last quarter. Global Financial Private Client LLC increased its stake in shares of PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after purchasing an additional 97 shares during the last quarter. PDS Planning Inc increased its stake in shares of PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock worth $292,000 after purchasing an additional 101 shares during the last quarter. Insight Wealth Partners LLC increased its stake in shares of PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after purchasing an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PACCAR 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 owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the 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 $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last quarter. 2.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on PCAR shares. Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $124.00 to $108.00 in a research note on Tuesday. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. reduced 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. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $118.23.

PACCAR Stock Performance

Shares of PCAR stock opened at $100.21 on Wednesday. The firm has a 50-day moving average of $106.86 and a 200-day moving average of $106.50. The company has a market cap of $52.59 billion, a P/E ratio of 12.67, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted 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 return on equity of 23.53% and a net margin of 12.36%. Equities research analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

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.