Bellwether Advisors LLC Acquires Shares of 597 PACCAR Inc (NASDAQ:PCAR)

Bellwether Advisors LLC acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 597 shares of the company’s stock, valued at approximately $62,000.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in PACCAR during the 4th quarter valued at $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the fourth quarter worth about $37,000. OFI Invest Asset Management bought a new position in PACCAR in the 4th quarter valued at about $43,000. Finally, Atala Financial Inc bought a new position in PACCAR in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $121.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial reduced their price objective on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup reduced their price objective on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $108.59.

PACCAR Stock Performance

Shares of PCAR opened at $92.04 on Tuesday. PACCAR Inc has a one year low of $85.05 and a one year high of $118.81. The company has a 50-day moving average of $97.24 and a two-hundred day moving average of $105.27. The stock has a market cap of $48.32 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.77 and a beta of 0.96. 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 (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio is 16.69%.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last three months. 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.