Insight Wealth Strategies LLC Raises Stock Position in PACCAR Inc (NASDAQ:PCAR)

Insight Wealth Strategies LLC increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 21.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,041 shares of the company’s stock after purchasing an additional 6,936 shares during the period. Insight Wealth Strategies LLC’s holdings in PACCAR were worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the period. JPMorgan Chase & Co. lifted its holdings in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after buying an additional 1,164,692 shares in the last quarter. Renaissance Technologies LLC purchased a new position in PACCAR in the 2nd quarter valued at about $88,437,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of PACCAR during the third quarter valued at about $63,186,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PCAR. Citigroup lifted their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Truist Financial increased their price target on shares of PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $118.50.

PACCAR Stock Performance

PCAR stock traded up $2.36 during trading on Monday, reaching $107.26. 1,120,870 shares of the company’s stock were exchanged, compared to its average volume of 1,466,510. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a market cap of $56.24 billion, a PE ratio of 11.98, a P/E/G ratio of 1.77 and a beta of 0.93. The company’s fifty day moving average price is $110.98 and its 200-day moving average price is $103.74. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business earned $2.34 earnings per share. On average, research analysts expect that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR’s dividend payout ratio is 14.75%.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 over the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

PACCAR 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.