PACCAR Inc (NASDAQ:PCAR) Shares Bought by Monument Capital Management

Monument Capital Management grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 32,072 shares of the company’s stock after acquiring an additional 467 shares during the quarter. Monument Capital Management’s holdings in PACCAR were worth $3,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Everence Capital Management Inc. acquired a new stake in shares of PACCAR in the fourth quarter valued at approximately $1,984,000. Sanctuary Advisors LLC increased its position in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,871 shares during the period. Mengis Capital Management Inc. raised its stake in PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after acquiring an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after acquiring an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent analyst reports. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Truist Financial raised their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. 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. Finally, JPMorgan Chase & Co. upped their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

PACCAR Stock Up 0.7 %

Shares of NASDAQ:PCAR opened at $105.96 on Monday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. The stock has a market cap of $55.55 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. The company has a 50 day moving average of $108.32 and a 200-day moving average of $104.85.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, sell-side analysts forecast that PACCAR Inc will post 7.6 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 16.69%.

Insider Activity at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. 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 on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,871 shares of company stock valued at $14,586,333. Corporate insiders own 2.02% of the company’s stock.

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.