Miracle Mile Advisors LLC Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Miracle Mile Advisors LLC lessened its holdings in shares of PACCAR Inc (NASDAQ:PCARFree Report) by 29.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,389 shares of the company’s stock after selling 983 shares during the period. Miracle Mile Advisors LLC’s holdings in PACCAR were worth $233,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PCAR. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the third quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its position in shares of PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. ST Germain D J Co. Inc. increased its position in shares of PACCAR by 61.9% during 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 position in shares of PACCAR during the third quarter worth $30,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of PACCAR in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several research reports. Morgan Stanley began coverage on PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price on the stock. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Truist Financial assumed coverage on shares of PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $116.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $109.39.

Check Out Our Latest Stock Analysis on PCAR

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $10,589,751.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction 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 sale, the chief financial officer now directly 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 SEC, which is available through the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction on 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 sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock valued at $15,834,812 in the last 90 days. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $120.42 on Thursday. 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 stock has a market capitalization of $63.10 billion, a P/E ratio of 13.75, a PEG ratio of 1.92 and a beta of 0.92. The company has a 50 day moving average price of $112.00 and a 200 day moving average price of $98.03. PACCAR Inc has a fifty-two week low of $67.48 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.76 EPS. Equities research analysts forecast that PACCAR Inc will post 8.15 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared 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 was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.90%. 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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