Optimize Financial Inc Acquires Shares of 2,206 PACCAR Inc (NASDAQ:PCAR)

Optimize Financial Inc acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,206 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after buying an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after acquiring an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock worth $1,119,997,000 after acquiring an additional 572,231 shares in the last quarter. FMR LLC increased its holdings in shares of PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after acquiring an additional 167,165 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of PACCAR during the 4th quarter valued at approximately $526,922,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $90.47 on Friday. The firm has a market capitalization of $47.49 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The stock’s fifty day moving average is $100.92 and its 200-day moving average is $106.15. PACCAR Inc has a one year low of $85.10 and a one year high of $121.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.46%. PACCAR’s payout ratio is presently 16.69%.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last ninety days. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and lowered their target price for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Truist Financial cut their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Citigroup lowered their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Evercore ISI cut their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.13.

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.