Norden Group LLC Takes $4 Million Position in PACCAR Inc (NASDAQ:PCAR)

Norden Group LLC acquired a new stake in PACCAR Inc (NASDAQ:PCAR) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 32,305 shares of the company’s stock, valued at approximately $4,002,000.

A number of other large investors have also recently bought and sold shares of PCAR. Riverview Trust Co acquired a new stake in shares of PACCAR in the first quarter worth about $29,000. Rise Advisors LLC acquired a new stake in PACCAR in the 1st quarter worth approximately $31,000. AdvisorNet Financial Inc boosted its position in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. ORG Partners LLC grew its holdings 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 purchasing an additional 372 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in shares of PACCAR in the fourth quarter valued at approximately $37,000. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PCAR shares. Royal Bank of Canada began coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Citigroup initiated coverage on PACCAR in a report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $113.92.

PACCAR Price Performance

Shares of PACCAR stock opened at $102.00 on Thursday. The firm has a market cap of $53.46 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. The firm’s 50-day simple moving average is $107.14 and its 200-day simple moving average is $107.84. PACCAR Inc has a twelve month low of $80.91 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.25 EPS. As a group, research analysts expect that PACCAR Inc will post 8.34 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.30 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s dividend payout ratio is currently 12.45%.

PACCAR Company 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.