GAMMA Investing LLC Increases Stock Position in PACCAR Inc (NASDAQ:PCAR)

GAMMA Investing LLC raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,127 shares of the company’s stock after purchasing an additional 1,058 shares during the period. GAMMA Investing LLC’s holdings in PACCAR were worth $845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PCAR. CVA Family Office LLC grew its stake in shares of PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after acquiring an additional 97 shares during the period. Omnia Family Wealth LLC grew its position in PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after purchasing an additional 98 shares during the period. Grove Bank & Trust raised its stake in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the last quarter. Insight Wealth Partners LLC lifted its holdings in shares of PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after buying an additional 104 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of PACCAR by 17.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 728 shares of the company’s stock worth $72,000 after buying an additional 109 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 1.4 %

PCAR stock opened at $104.90 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The business has a 50 day simple moving average of $110.98 and a two-hundred day simple moving average of $103.80. The company has a market capitalization of $55.00 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during 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%. PACCAR’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. Research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 14.75%.

Insider Transactions at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the sale, the senior vice president now owns 7,121 shares in the company, valued at $761,947. This represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PCAR shares. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Citigroup boosted their target price on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $118.50.

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.