Baring Financial LLC Makes New $696,000 Investment in PACCAR Inc (NASDAQ:PCAR)

Baring Financial LLC purchased a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, Holdings Channel.com reports. The fund purchased 6,694 shares of the company’s stock, valued at approximately $696,000.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new stake in PACCAR in the 2nd quarter valued at about $26,000. Grove Bank & Trust grew its holdings in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the period. Sander Capital Advisors Inc. purchased a new position in PACCAR during the third quarter worth approximately $50,000. Ashton Thomas Securities LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at $52,000. Finally, AdvisorNet Financial Inc boosted its holdings in PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after acquiring an additional 391 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.02% of the company’s stock.

PACCAR Trading Up 3.4 %

NASDAQ:PCAR opened at $110.89 on Thursday. The stock has a market cap of $58.14 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The business’s 50-day simple moving average is $110.45 and its 200 day simple moving average is $104.45.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. As a group, sell-side analysts predict that PACCAR Inc will post 7.93 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 13.41%.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. 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. Citigroup cut their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.32.

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.