PACCAR Inc (NASDAQ:PCAR) Shares Bought by Paradiem LLC

Paradiem LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 32.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 78,137 shares of the company’s stock after buying an additional 19,177 shares during the period. PACCAR makes up approximately 2.1% of Paradiem LLC’s holdings, making the stock its 16th biggest position. Paradiem LLC’s holdings in PACCAR were worth $7,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in PACCAR in the 3rd quarter worth about $26,000. AdvisorNet Financial Inc increased its holdings in shares of PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. ST Germain D J Co. Inc. lifted its position in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in shares of PACCAR during the third quarter worth approximately $30,000. Finally, NBC Securities Inc. purchased a new position in PACCAR during the third quarter valued at approximately $34,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In related news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. Insiders sold a total of 141,293 shares of company stock valued at $14,581,337 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of research analyst reports. Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price for the company. Evercore ISI lifted their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Royal Bank of Canada began coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Finally, UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price of $113.08.

PACCAR Stock Performance

NASDAQ:PCAR traded down $0.66 during trading hours on Friday, hitting $111.96. 2,802,541 shares of the company traded hands, compared to its average volume of 2,224,804. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $58.67 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.68 and a beta of 0.92. The firm has a 50-day moving average of $116.58 and a 200 day moving average of $101.87. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

PACCAR Company 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.