Simon Quick Advisors LLC Has $390,000 Holdings in PACCAR Inc (NASDAQ:PCAR)

Simon Quick Advisors LLC increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 21.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,745 shares of the company’s stock after purchasing an additional 654 shares during the period. Simon Quick Advisors LLC’s holdings in PACCAR were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new stake in PACCAR in the 2nd quarter valued at $26,000. Grove Bank & Trust boosted its position in shares of 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 acquiring an additional 103 shares in the last quarter. Sander Capital Advisors Inc. bought a new stake in PACCAR in the third quarter valued at about $50,000. Ashton Thomas Securities LLC acquired a new position in PACCAR in the third quarter worth about $52,000. Finally, AdvisorNet Financial Inc lifted its stake in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares during the period. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCAR. Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Truist Financial upped their target price on shares of PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. 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. Finally, Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $120.13.

Insider Buying and Selling at PACCAR

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,085 shares of company stock worth $6,012,070. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $110.06 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. The firm has a 50 day simple moving average of $110.70 and a 200 day simple moving average of $104.23. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm has a market cap of $57.70 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.78 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period last year, the firm earned $2.34 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts predict that PACCAR Inc will post 7.93 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is currently 13.41%.

PACCAR 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.