HighPoint Advisor Group LLC Purchases Shares of 12,316 PACCAR Inc (NASDAQ:PCAR)

HighPoint Advisor Group LLC purchased a new stake in shares of PACCAR Inc (NASDAQ:PCARFree Report) during the fourth quarter, Holdings Channel.com reports. The firm purchased 12,316 shares of the company’s stock, valued at approximately $1,203,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. AdvisorNet Financial Inc grew its holdings in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of PACCAR in the fourth quarter worth approximately $37,000. ORG Partners LLC grew its holdings in shares of PACCAR by 6,200.0% in the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after purchasing an additional 372 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of PACCAR in the fourth quarter worth approximately $39,000. Finally, Mendota Financial Group LLC bought a new position in shares of PACCAR in the fourth quarter worth approximately $44,000. 64.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock worth $4,779,241 over the last three months. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent analyst reports. Evercore ISI raised their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Truist Financial reaffirmed a “hold” rating and issued a $121.00 price target (up previously from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada started coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target for the company. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $112.62.

Check Out Our Latest Report on PACCAR

PACCAR Stock Down 0.3 %

PACCAR stock traded down $0.35 on Tuesday, hitting $107.40. 145,675 shares of the stock traded hands, compared to its average volume of 2,426,875. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The firm has a market cap of $56.29 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. The business’s fifty day simple moving average is $109.56 and its 200 day simple moving average is $107.11. PACCAR Inc has a 1 year low of $76.88 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same quarter last year, the firm posted $2.25 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that PACCAR Inc will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

PACCAR Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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