Optas LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Optas LLC bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,940 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCAR. Morningstar Investment Management LLC increased its stake in shares of PACCAR by 1.3% in the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after acquiring an additional 97 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in PACCAR by 3.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock valued at $315,000 after purchasing an additional 100 shares during the last quarter. Evanson Asset Management LLC grew its stake in shares of PACCAR by 3.5% in the 1st quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock valued at $400,000 after buying an additional 108 shares during the period. FORVIS Wealth Advisors LLC increased its holdings in shares of PACCAR by 0.5% during the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after buying an additional 109 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its holdings in PACCAR by 3.2% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 4,025 shares of the company’s stock valued at $393,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PCAR shares. The Goldman Sachs Group raised their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Citigroup started coverage on shares of PACCAR in a research report on Wednesday. They issued a “neutral” rating and a $115.00 target price on the stock. StockNews.com cut shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Royal Bank of Canada started coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $114.38.

Insiders Place Their Bets

In other news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock valued at $4,779,241 in the last ninety days. Insiders own 2.02% of the company’s stock.

PACCAR Stock Down 1.0 %

Shares of PCAR stock traded down $1.03 during trading hours on Friday, reaching $102.94. 11,403,453 shares of the stock were exchanged, compared to its average volume of 2,603,300. The business’s fifty day moving average is $107.60 and its two-hundred day moving average is $107.77. The firm has a market capitalization of $53.96 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.57 and a beta of 0.94. PACCAR Inc has a 12-month low of $80.64 and a 12-month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.25 EPS. As a group, research analysts expect that PACCAR Inc will post 8.35 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a $0.30 dividend. The ex-dividend date was Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

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.