Parallel Advisors LLC Grows Holdings in PACCAR Inc (NASDAQ:PCAR)

Parallel Advisors LLC increased its position in PACCAR Inc (NASDAQ:PCAR) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,123 shares of the company’s stock after acquiring an additional 278 shares during the quarter. Parallel Advisors LLC’s holdings in PACCAR were worth $845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC bought a new position in PACCAR in the 4th quarter worth approximately $37,000. OFI Invest Asset Management bought a new position in PACCAR in the 4th quarter worth approximately $43,000. Atala Financial Inc bought a new position in PACCAR in the 4th quarter worth approximately $43,000. Finally, Regents Gate Capital LLP bought a new position in PACCAR in the 4th quarter worth approximately $44,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $99.59 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $106.68 and its two-hundred day simple moving average is $106.45. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The firm has a market cap of $52.27 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.77 and a beta of 0.91.

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

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and lowered their target price for the company from $124.00 to $108.00 in a research report on Tuesday. Melius Research upgraded PACCAR to a “strong-buy” rating in a research report on Tuesday. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.23.

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.