PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Synergy Asset Management LLC

Synergy Asset Management LLC grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 106.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,699 shares of the company’s stock after purchasing an additional 2,936 shares during the quarter. Synergy Asset Management LLC’s holdings in PACCAR were worth $576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP acquired a new position in PACCAR during the 2nd quarter worth approximately $26,000. Grove Bank & Trust grew its position 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 acquiring an additional 103 shares in the last quarter. Sander Capital Advisors Inc. purchased a new stake in shares of PACCAR during the third quarter valued at approximately $50,000. Ashton Thomas Securities LLC acquired a new position in shares of PACCAR during the third quarter worth $52,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after purchasing an additional 391 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $110.89 on Thursday. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a market cap of $58.14 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 2.77 and a beta of 0.93. The stock has a 50 day moving average of $110.45 and a 200-day moving average of $104.45.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. As a group, analysts forecast that PACCAR Inc will post 7.93 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 13.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PCAR shares. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.32.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.02% of the company’s stock.

About PACCAR

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.