PACCAR Inc (NASDAQ:PCAR) Stock Position Boosted by Matrix Trust Co

Matrix Trust Co boosted its stake in PACCAR Inc (NASDAQ:PCARFree Report) by 581.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,663 shares of the company’s stock after buying an additional 1,419 shares during the period. Matrix Trust Co’s holdings in PACCAR were worth $173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Everence Capital Management Inc. bought a new position in PACCAR in the 4th quarter valued at about $1,984,000. Sanctuary Advisors LLC lifted its holdings in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. lifted its holdings in PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after acquiring an additional 5,433 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after acquiring an additional 89,245 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares in the company, valued at approximately $761,947. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $106.58 on Monday. The company has a 50 day simple moving average of $111.26 and a 200-day simple moving average of $103.81. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm has a market capitalization of $55.88 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 14.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCAR. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup upped their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Finally, Truist Financial upped their price objective on shares of PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $118.50.

Read Our Latest Stock Analysis on PCAR

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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