Perigon Wealth Management LLC Has $283,000 Position in PACCAR Inc (NASDAQ:PCAR)

Perigon Wealth Management LLC cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,897 shares of the company’s stock after selling 276 shares during the quarter. Perigon Wealth Management LLC’s holdings in PACCAR were worth $283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCAR. OFI Invest Asset Management acquired a new position in PACCAR during the 3rd quarter worth about $26,000. AdvisorNet Financial Inc lifted its stake 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 stake 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 purchasing an additional 130 shares during the period. Arlington Trust Co LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at about $30,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of PACCAR in the 1st quarter valued at about $33,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen boosted their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Finally, 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 for the company. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Stock Performance

Shares of PCAR opened at $117.54 on Wednesday. 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 50 day moving average price of $115.48 and a two-hundred day moving average price of $100.46. The firm has a market capitalization of $61.59 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.79 and a beta of 0.92. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its 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 company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the prior year, the company posted $1.76 earnings per share. PACCAR’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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 dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.92%. PACCAR’s dividend payout ratio is currently 12.31%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock worth $15,834,812 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

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.