PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Traynor Capital Management Inc.

Traynor Capital Management Inc. grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,383 shares of the company’s stock after purchasing an additional 144 shares during the period. Traynor Capital Management Inc.’s holdings in PACCAR were worth $248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PCAR. Quarry LP purchased a new stake in PACCAR in the 2nd quarter worth approximately $26,000. Grove Bank & Trust increased its stake in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the last quarter. Sander Capital Advisors Inc. purchased a new position in PACCAR during the third quarter worth about $50,000. Ashton Thomas Securities LLC acquired a new stake in PACCAR in the 3rd quarter worth about $52,000. Finally, AdvisorNet Financial Inc grew its holdings in PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PCAR. Citigroup cut their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley dropped their price objective on 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. lifted their target price on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $120.13.

PACCAR Stock Performance

PACCAR stock opened at $110.06 on Friday. The firm has a market capitalization of $57.70 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.93. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The stock’s 50 day moving average price is $110.70 and its 200 day moving average price is $104.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 earnings per share. As a group, sell-side analysts expect that PACCAR Inc will post 7.93 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is 13.41%.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,085 shares of company stock worth $6,012,070 in the last quarter. 2.02% of the stock is owned by corporate insiders.

PACCAR 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.