Secure Asset Management LLC Grows Stake in PACCAR Inc (NASDAQ:PCAR)

Secure Asset Management LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,352 shares of the company’s stock after buying an additional 151 shares during the period. Secure Asset Management LLC’s holdings in PACCAR were worth $349,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PCAR. Quarry LP purchased a new position in PACCAR in the 2nd quarter worth approximately $26,000. Grove Bank & Trust boosted its stake in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the period. Sander Capital Advisors Inc. acquired a new stake in PACCAR during the 3rd quarter valued at $50,000. Ashton Thomas Securities LLC purchased a new stake in PACCAR during the 3rd quarter worth $52,000. Finally, AdvisorNet Financial Inc lifted its holdings in PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after buying an additional 391 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In other news, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares in the company, valued at approximately $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated 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 completion of 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. Insiders sold 57,085 shares of company stock worth $6,012,070 in the last quarter. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

NASDAQ:PCAR opened at $109.90 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 one year low of $90.04 and a one year high of $125.50. The company has a fifty day moving average price of $110.60 and a 200 day moving average price of $104.27. The stock has a market cap of $57.62 billion, a P/E ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.93.

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

PACCAR Increases Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on PCAR shares. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Citigroup reduced 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. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Truist Financial lifted their price objective on shares of PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $121.23.

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.