Montag A & Associates Inc. Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

Montag A & Associates Inc. increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 15.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,012 shares of the company’s stock after purchasing an additional 2,508 shares during the quarter. Montag A & Associates Inc.’s holdings in PACCAR were worth $1,916,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PCAR. OFI Invest Asset Management purchased a new stake in shares of PACCAR during the third quarter worth approximately $26,000. AdvisorNet Financial Inc grew its holdings in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. NBC Securities Inc. purchased a new stake in PACCAR in the 3rd quarter valued at $34,000. Bruce G. Allen Investments LLC purchased a new stake in PACCAR in the 4th quarter valued at $37,000. Finally, ORG Partners LLC grew its holdings in PACCAR by 6,200.0% in the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after buying an additional 372 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PCAR shares. Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Truist Financial restated a “hold” rating and issued a $121.00 target price (up from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Evercore ISI upped their price target on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and upped their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.62.

PACCAR Trading Up 1.7 %

PACCAR stock traded up $1.87 during midday trading on Thursday, reaching $108.92. 1,887,258 shares of the stock traded hands, compared to its average volume of 2,456,158. The company has a 50-day simple moving average of $116.10 and a two-hundred day simple moving average of $103.15. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50. The firm has a market cap of $57.09 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating 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 analysts’ expectations of $8.25 billion. During the same period last year, the business posted $2.25 EPS. PACCAR’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts expect that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is presently 11.20%.

Insider Activity

In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction dated Tuesday, May 7th. The stock was 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 in the company, valued at approximately $16,397,377.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred 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 directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,770 shares of company stock worth $8,244,517. 2.02% of the stock is currently owned by company 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.