Linden Thomas Advisory Services LLC Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

Linden Thomas Advisory Services LLC acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,637 shares of the company’s stock, valued at approximately $258,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its holdings in PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after buying an additional 16,360 shares in the last quarter. abrdn plc raised its stake in shares of PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after acquiring an additional 89,359 shares in the last quarter. Aigen Investment Management LP acquired a new stake in PACCAR in the 3rd quarter worth approximately $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in PACCAR by 42.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock worth $47,518,000 after purchasing an additional 166,628 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in PACCAR by 29.6% during the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after purchasing an additional 16,390 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

NASDAQ PCAR opened at $111.96 on Friday. The firm has a market cap of $58.67 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.69 and a beta of 0.92. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The company has a 50 day moving average of $116.58 and a 200-day moving average of $101.77.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.76 EPS. On average, equities analysts forecast that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PCAR. The Goldman Sachs Group boosted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Evercore ISI raised their price target on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

Insider Activity at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the transaction, the vice president now owns 5,726 shares in the company, valued at $584,739.12. The disclosure for this sale can be found here. Insiders sold 141,293 shares of company stock valued at $14,581,337 over the last ninety days. 2.02% of the stock is owned by insiders.

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.