PACCAR Inc (NASDAQ:PCAR) Shares Sold by Cairn Investment Group Inc.

Cairn Investment Group Inc. lowered its position in PACCAR Inc (NASDAQ:PCAR) by 0.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 33,441 shares of the company’s stock after selling 120 shares during the quarter. PACCAR accounts for 2.0% of Cairn Investment Group Inc.’s holdings, making the stock its 22nd largest holding. Cairn Investment Group Inc.’s holdings in PACCAR were worth $3,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCAR. Quarry LP acquired a new position in PACCAR in the second quarter valued at $26,000. Grove Bank & Trust lifted its stake in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares in the last quarter. Sander Capital Advisors Inc. acquired a new position in shares of PACCAR during the third quarter worth about $50,000. Ashton Thomas Securities LLC acquired a new position in shares of PACCAR during the third quarter worth about $52,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PCAR. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.32.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.02% of the stock is owned by corporate insiders.

PACCAR Trading Up 3.4 %

NASDAQ:PCAR opened at $110.89 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock has a market cap of $58.14 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The business’s 50-day simple moving average is $110.45 and its 200 day simple moving average is $104.45.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. As a group, 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. Investors of record on Friday, December 20th were issued a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is currently 13.41%.

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.