First Horizon Advisors Inc. Trims Stock Position in PACCAR Inc (NASDAQ:PCAR)

First Horizon Advisors Inc. cut its stake in PACCAR Inc (NASDAQ:PCAR) by 77.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308 shares of the company’s stock after selling 1,075 shares during the period. First Horizon Advisors Inc.’s holdings in PACCAR were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Navellier & Associates Inc. raised its holdings in shares of PACCAR by 18.3% in the fourth quarter. Navellier & Associates Inc. now owns 4,771 shares of the company’s stock valued at $496,000 after buying an additional 739 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $947,000. JLB & Associates Inc. raised its holdings in shares of PACCAR by 13.5% in the fourth quarter. JLB & Associates Inc. now owns 39,587 shares of the company’s stock valued at $4,118,000 after buying an additional 4,712 shares during the last quarter. Lakeside Advisors INC. raised its holdings in shares of PACCAR by 46.0% in the fourth quarter. Lakeside Advisors INC. now owns 33,268 shares of the company’s stock valued at $3,460,000 after buying an additional 10,483 shares during the last quarter. Finally, Parcion Private Wealth LLC raised its holdings in shares of PACCAR by 0.9% in the fourth quarter. Parcion Private Wealth LLC now owns 268,617 shares of the company’s stock valued at $27,942,000 after buying an additional 2,512 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Up 1.6 %

PCAR stock opened at $107.24 on Friday. The company’s 50 day simple moving average is $107.24 and its 200-day simple moving average is $105.64. The firm has a market capitalization of $56.28 billion, a PE ratio of 13.56, a P/E/G ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal 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 given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 16.69%.

Analyst Ratings Changes

Several research firms recently issued reports on PCAR. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Jefferies Financial Group cut 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. Citigroup cut their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Evercore ISI cut their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a 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 that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is currently owned by insiders.

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.