GDS Wealth Management Sells 112 Shares of PACCAR Inc (NASDAQ:PCAR)

GDS Wealth Management lessened its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,780 shares of the company’s stock after selling 112 shares during the quarter. GDS Wealth Management’s holdings in PACCAR were worth $564,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FORVIS Wealth Advisors LLC lifted its holdings in PACCAR by 0.5% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock valued at $2,158,000 after buying an additional 109 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in PACCAR by 0.9% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after purchasing an additional 124 shares during the period. Blue Trust Inc. increased its holdings in PACCAR by 39.3% in the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after purchasing an additional 127 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of PACCAR by 4.5% during the 4th quarter. Summit Trail Advisors LLC now owns 3,078 shares of the company’s stock worth $309,000 after buying an additional 133 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of PACCAR by 0.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 35,869 shares of the company’s stock valued at $3,050,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of research reports. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $84.00 to $97.00 in a report on Friday, January 19th. TD Cowen raised their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. The Goldman Sachs Group upped their price objective on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Truist Financial reissued a “hold” rating and issued a $121.00 price objective (up from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Trading Up 1.7 %

PCAR stock traded up $1.87 during trading on Thursday, hitting $108.92. 1,887,258 shares of the company traded hands, compared to its average volume of 2,456,158. The firm has a market capitalization of $57.09 billion, a PE ratio of 11.30, a P/E/G ratio of 1.63 and a beta of 0.96. PACCAR Inc has a 1 year low of $68.40 and a 1 year 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. The company has a 50-day moving average of $116.10 and a 200-day moving average of $103.15.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same quarter last year, the firm posted $2.25 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Analysts predict that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.10%. PACCAR’s dividend payout ratio is 11.20%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares in the company, valued at $16,397,377.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,770 shares of company stock worth $8,244,517. 2.02% of the stock is owned by corporate insiders.

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.