PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,628 shares of the company’s stock after purchasing an additional 220 shares during the quarter. PACCAR comprises about 1.9% of Fortitude Advisory Group L.L.C.’s holdings, making the stock its 8th biggest position. Fortitude Advisory Group L.L.C.’s holdings in PACCAR were worth $3,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. FORVIS Wealth Advisors LLC raised its holdings in shares of 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 during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of PACCAR by 0.9% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after purchasing an additional 124 shares during the last quarter. Blue Trust Inc. increased its stake in shares of PACCAR by 39.3% during the 4th quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after purchasing an additional 127 shares during the last quarter. ST Germain D J Co. Inc. grew its stake in PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 130 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in PACCAR by 0.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 35,869 shares of the company’s stock valued at $3,050,000 after buying an additional 142 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Up 0.2 %

Shares of NASDAQ PCAR traded up $0.23 during midday trading on Wednesday, hitting $106.34. 4,020,628 shares of the company traded hands, compared to its average volume of 2,431,174. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The stock has a 50-day moving average price of $116.67 and a 200 day moving average price of $102.33. The firm has a market cap of $55.72 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.71 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, analysts expect that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a dividend of $0.30 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. PACCAR’s dividend payout ratio is 12.31%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, 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 sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The disclosure for this sale can be found here. Insiders have sold a total of 66,946 shares of company stock worth $7,003,148 over the last quarter. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial assumed coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target for the company. TD Cowen raised their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Morgan Stanley assumed coverage on shares of PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $112.31.

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.