Planned Solutions Inc. Takes $66,000 Position in PACCAR Inc (NASDAQ:PCAR)

Planned Solutions Inc. acquired a new stake in shares of PACCAR Inc (NASDAQ:PCARFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 675 shares of the company’s stock, valued at approximately $66,000.

A number of other large investors have also added to or reduced their stakes in PCAR. State Street Corp raised its stake in PACCAR by 49.0% during the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after buying an additional 7,020,923 shares during the last quarter. Geode Capital Management LLC raised its stake in PACCAR by 53.3% during the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after buying an additional 4,082,677 shares during the last quarter. Norges Bank purchased a new position in PACCAR during the fourth quarter valued at $323,885,000. Wellington Management Group LLP raised its stake in PACCAR by 249.2% during the first quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company’s stock valued at $338,663,000 after buying an additional 2,744,040 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in PACCAR by 2,578.2% during the first quarter. Mercer Global Advisors Inc. ADV now owns 2,292,972 shares of the company’s stock valued at $167,846,000 after buying an additional 2,207,357 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $584,739.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,496 shares of company stock valued at $15,834,812. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCAR. 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 note on Tuesday, February 20th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday. They issued a “sector perform” rating and a $123.00 target price for the company. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Truist Financial initiated coverage on PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price for the company. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.39.

Read Our Latest Analysis on PCAR

PACCAR Stock Performance

Shares of PCAR opened at $123.89 on Friday. 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 Inc has a one year low of $67.48 and a one year high of $125.50. The firm has a market capitalization of $64.92 billion, a P/E ratio of 14.13, a PEG ratio of 1.94 and a beta of 0.91. The business has a fifty day moving average of $109.94 and a 200 day moving average of $96.87.

PACCAR (NASDAQ:PCARGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. PACCAR’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that PACCAR Inc will post 8.13 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio is presently 12.31%.

PACCAR Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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