Ethic Inc. Acquires 4,374 Shares of PACCAR Inc (NASDAQ:PCAR)

Ethic Inc. increased its holdings in PACCAR Inc (NASDAQ:PCARFree Report) by 4.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 105,107 shares of the company’s stock after purchasing an additional 4,374 shares during the period. Ethic Inc.’s holdings in PACCAR were worth $10,264,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PCAR. AdvisorNet Financial Inc raised its stake in shares of PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. ORG Partners LLC lifted its position in PACCAR by 6,200.0% during the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after buying an additional 372 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of PACCAR during the 4th quarter valued at $37,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of PACCAR in the 4th quarter worth about $39,000. Finally, Blue Trust Inc. boosted its stake in PACCAR by 39.3% during the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several analyst reports. Truist Financial restated a “hold” rating and set a $121.00 price target (up from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. The Goldman Sachs Group raised their price objective on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada initiated coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective on the stock. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, Evercore ISI increased their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Seven investment 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 stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $112.62.

View Our Latest Stock Analysis on PACCAR

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $1.01 during midday trading on Tuesday, reaching $106.42. 600,263 shares of the stock were exchanged, compared to its average volume of 2,438,552. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The firm has a market cap of $55.78 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.64 and a beta of 0.94. The firm has a 50-day simple moving average of $111.02 and a two-hundred day simple moving average of $106.57. PACCAR Inc has a twelve month low of $76.35 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.25 EPS. As a group, analysts anticipate that PACCAR Inc will post 8.36 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were given a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Insider Buying and Selling

In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock worth $4,779,241 in the last 90 days. Insiders own 2.02% of the company’s stock.

About PACCAR

(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.

See Also

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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