Watchman Group Inc. Lowers Holdings in PACCAR Inc (NASDAQ:PCAR)

Watchman Group Inc. lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,227 shares of the company’s stock after selling 1,109 shares during the period. PACCAR makes up approximately 1.2% of Watchman Group Inc.’s portfolio, making the stock its 25th largest position. Watchman Group Inc.’s holdings in PACCAR were worth $4,392,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the 4th quarter valued at $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR in the 4th quarter valued at $43,000. Atala Financial Inc purchased a new stake in shares of PACCAR during the 4th quarter worth $43,000. Finally, Regents Gate Capital LLP acquired a new position in shares of PACCAR during the fourth quarter worth $44,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PCAR. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $96.91 on Friday. The business’s 50 day simple moving average is $105.19 and its 200-day simple moving average is $106.64. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $124.39.

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 return on equity of 23.53% and a net margin of 12.36%. As a group, equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business 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 is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s payout ratio is currently 16.69%.

Insider Activity at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by corporate insiders.

PACCAR Company 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.