Paradiem LLC Boosts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Paradiem LLC lifted its holdings in PACCAR Inc (NASDAQ:PCAR) by 32.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 78,137 shares of the company’s stock after purchasing an additional 19,177 shares during the period. PACCAR comprises 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 SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC acquired a new position in PACCAR during the 3rd quarter valued at approximately $245,000. Ballentine Partners LLC grew its holdings in shares of PACCAR by 15.1% during the third quarter. Ballentine Partners LLC now owns 4,940 shares of the company’s stock valued at $420,000 after buying an additional 648 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of PACCAR by 10.3% during the third quarter. Valeo Financial Advisors LLC now owns 4,712 shares of the company’s stock valued at $401,000 after buying an additional 439 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Finally, Mcdaniel Terry & Co. raised its stake in PACCAR by 0.5% in the 3rd quarter. Mcdaniel Terry & Co. now owns 387,560 shares of the company’s stock worth $32,950,000 after acquiring an additional 1,890 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $493,675,224.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares of the company’s stock, valued at $15,010,719.15. 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 over the last 90 days. 2.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PCAR. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Royal Bank of Canada initiated coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. TD Cowen increased their price target on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group lifted their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley initiated coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $113.08.

PACCAR Trading Down 0.6 %

Shares of PCAR stock traded down $0.66 during trading on Friday, hitting $111.96. 2,802,541 shares of the stock traded hands, compared to its average volume of 2,224,804. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The firm has a market capitalization of $58.67 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 1.68 and a beta of 0.92. The firm’s fifty day moving average price is $116.58 and its 200-day moving average price is $101.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR Announces Dividend

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

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.