ZEGA Investments LLC Takes Position in PACCAR Inc (NASDAQ:PCAR)

ZEGA Investments LLC bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,500 shares of the company’s stock, valued at approximately $1,154,000.

Other hedge funds have also added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in shares of PACCAR by 12.4% during the fourth quarter. TD Private Client Wealth LLC now owns 2,610 shares of the company’s stock valued at $271,000 after purchasing an additional 287 shares during the period. Whittier Trust Co. raised its stake in PACCAR by 6.9% during the 4th quarter. Whittier Trust Co. now owns 23,274 shares of the company’s stock worth $2,421,000 after buying an additional 1,500 shares during the period. Magnetar Financial LLC bought a new position in PACCAR in the fourth quarter worth approximately $527,000. Harvest Fund Management Co. Ltd boosted its holdings in PACCAR by 32.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 31,980 shares of the company’s stock worth $3,313,000 after acquiring an additional 7,833 shares in the last quarter. Finally, Xponance Inc. grew its stake in PACCAR by 3.9% in the fourth quarter. Xponance Inc. now owns 74,319 shares of the company’s stock valued at $7,731,000 after acquiring an additional 2,769 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PCAR shares. Citigroup reduced their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Evercore ISI cut 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. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Melius Research raised PACCAR to a “strong-buy” rating in a research report on Tuesday. Eight 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 stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average target price of $118.23.

PACCAR Stock Performance

NASDAQ:PCAR opened at $97.11 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $106.29 and its 200 day simple moving average is $106.40. The stock has a market cap of $50.96 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.36%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio is presently 16.69%.

Insiders Place Their Bets

In related news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % 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 corporate insiders.

PACCAR Profile

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.