PACCAR Inc (NASDAQ:PCAR) Stake Raised by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 11.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,180 shares of the company’s stock after purchasing an additional 439 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in PACCAR were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Sage Mountain Advisors LLC bought a new position in shares of PACCAR in the fourth quarter worth $258,000. Net Worth Advisory Group lifted its holdings in PACCAR by 2.5% in the fourth quarter. Net Worth Advisory Group now owns 15,904 shares of the company’s stock worth $1,654,000 after purchasing an additional 386 shares during the period. Claris Advisors LLC MO grew its position in PACCAR by 1.5% in the 4th quarter. Claris Advisors LLC MO now owns 7,209 shares of the company’s stock valued at $750,000 after buying an additional 108 shares in the last quarter. Independent Advisor Alliance increased its stake in PACCAR by 27.6% during the 4th quarter. Independent Advisor Alliance now owns 6,586 shares of the company’s stock valued at $685,000 after buying an additional 1,425 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of PACCAR by 6.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 105,718 shares of the company’s stock worth $10,997,000 after buying an additional 6,573 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on PCAR. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Evercore ISI dropped their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Citigroup cut 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. Finally, Truist Financial lifted 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. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of PACCAR 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 transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last quarter. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $98.42 on Friday. 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 1 year low of $90.04 and a 1 year high of $125.50. The company has a market cap of $51.65 billion, a PE ratio of 12.44, a PEG ratio of 2.77 and a beta of 0.91. The stock’s 50-day moving average price is $107.29 and its two-hundred day moving average price is $106.24.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results 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 net margin of 12.36% and a return on equity of 23.53%. On average, analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. 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 is presently 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.