Schechter Investment Advisors LLC Reduces Stock Position in PACCAR Inc (NASDAQ:PCAR)

Schechter Investment Advisors LLC trimmed its position in PACCAR Inc (NASDAQ:PCARFree Report) by 12.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,181 shares of the company’s stock after selling 300 shares during the quarter. Schechter Investment Advisors LLC’s holdings in PACCAR were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PCAR. Assenagon Asset Management S.A. raised its position in PACCAR by 318.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,209 shares of the company’s stock worth $15,644,000 after buying an additional 121,904 shares during the last quarter. Artemis Investment Management LLP lifted its position in PACCAR by 8.4% during the fourth quarter. Artemis Investment Management LLP now owns 75,027 shares of the company’s stock valued at $7,327,000 after purchasing an additional 5,809 shares during the period. Simon Quick Advisors LLC acquired a new position in PACCAR during the fourth quarter valued at $224,000. Kingswood Wealth Advisors LLC boosted its holdings in PACCAR by 4.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,622 shares of the company’s stock valued at $842,000 after purchasing an additional 403 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in PACCAR by 29.6% during the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after purchasing an additional 16,390 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,589,751.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction that occurred on Thursday, February 1st. The shares were 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 approximately $584,739.12. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 in the last 90 days. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $123.89 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The business’s 50 day moving average price is $111.07 and its 200 day moving average price is $97.33. The company has a market cap of $64.92 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.93 and a beta of 0.91. PACCAR Inc has a one year low of $67.48 and a one year high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the previous year, the firm earned $1.76 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc will post 8.15 EPS for the current year.

PACCAR Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PCAR. Truist Financial started coverage on PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price objective for the company. TD Cowen upped their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. 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 data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

Check Out Our Latest Stock Report on PACCAR

PACCAR Company 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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