Keel Point LLC Makes New $200,000 Investment in PACCAR Inc (NASDAQ:PCAR)

Keel Point LLC bought a new position in PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,050 shares of the company’s stock, valued at approximately $200,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. FORVIS Wealth Advisors LLC grew its stake in PACCAR by 0.5% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after acquiring an additional 109 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of PACCAR by 0.9% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after acquiring an additional 124 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of PACCAR by 1.9% in the third quarter. CIBC Private Wealth Group LLC now owns 6,654 shares of the company’s stock worth $557,000 after acquiring an additional 124 shares during the period. Penserra Capital Management LLC increased its stake in shares of PACCAR by 8.2% in the first quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock worth $145,000 after acquiring an additional 125 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of PACCAR by 39.3% in the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after acquiring an additional 127 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In related news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Harrie Schippers sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock worth $15,834,812 over the last three months. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Royal Bank of Canada assumed coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective on the stock. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.82.

PACCAR Stock Performance

PCAR opened at $115.93 on Thursday. The firm’s fifty day simple moving average is $115.70 and its two-hundred day simple moving average is $100.57. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The company has a market cap of $60.75 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.78 and a beta of 0.92. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.76 earnings per share. Equities analysts anticipate that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is presently 12.31%.

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.