Kennondale Capital Management LLC Buys Shares of 15,601 PACCAR Inc (NASDAQ:PCAR)

Kennondale Capital Management LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 15,601 shares of the company’s stock, valued at approximately $1,623,000. PACCAR accounts for about 1.3% of Kennondale Capital Management LLC’s holdings, making the stock its 18th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in PACCAR in the 4th quarter valued at about $37,000. Kestra Investment Management LLC bought a new position in PACCAR in the 4th quarter valued at about $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR in the 4th quarter valued at approximately $43,000. Atala Financial Inc acquired a new stake in shares of PACCAR in the 4th quarter valued at approximately $43,000. Finally, Regents Gate Capital LLP acquired a new stake in shares of PACCAR in the 4th quarter valued at approximately $44,000. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $101.17 on Tuesday. The company’s 50-day moving average is $107.05 and its 200 day moving average is $106.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a market capitalization of $53.09 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

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

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 16.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Truist Financial boosted their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $120.35.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the company’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 sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 over the last ninety days. Company insiders own 2.02% of the company’s stock.

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.