Gamco Investors INC. ET AL Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Gamco Investors INC. ET AL trimmed its position in PACCAR Inc (NASDAQ:PCAR) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,302 shares of the company’s stock after selling 2,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in PACCAR were worth $3,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Everence Capital Management Inc. purchased a new position in shares of PACCAR in the fourth quarter valued at about $1,984,000. Cullen Frost Bankers Inc. raised its position in PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after purchasing an additional 6,494 shares during the last quarter. LPL Financial LLC raised its position in PACCAR by 6.1% during the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after purchasing an additional 12,143 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of PACCAR by 19.3% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after buying an additional 214 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

PCAR stock opened at $88.17 on Friday. The stock’s 50 day simple moving average is $99.45 and its 200 day simple moving average is $105.82. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $85.10 and a 12-month high of $118.81. The stock has a market capitalization of $46.28 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data 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%. As a group, research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is 16.69%.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. 2.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PCAR shares. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Morgan Stanley downgraded shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a research note on Wednesday. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial decreased their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Finally, Evercore ISI dropped their target price on shares of 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 given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PACCAR has an average rating of “Hold” and a consensus price target of $108.59.

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.