Navellier & Associates Inc. Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Navellier & Associates Inc. grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 18.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,771 shares of the company’s stock after buying an additional 739 shares during the quarter. Navellier & Associates Inc.’s holdings in PACCAR were worth $496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Paradigm Asset Management Co. LLC bought a new position in shares of PACCAR during the fourth quarter valued at about $947,000. JLB & Associates Inc. grew its stake in shares of PACCAR by 13.5% during the fourth quarter. JLB & Associates Inc. now owns 39,587 shares of the company’s stock valued at $4,118,000 after buying an additional 4,712 shares during the last quarter. Lakeside Advisors INC. grew its stake in shares of PACCAR by 46.0% during the fourth quarter. Lakeside Advisors INC. now owns 33,268 shares of the company’s stock valued at $3,460,000 after buying an additional 10,483 shares during the last quarter. Parcion Private Wealth LLC grew its stake in shares of PACCAR by 0.9% during the fourth quarter. Parcion Private Wealth LLC now owns 268,617 shares of the company’s stock valued at $27,942,000 after buying an additional 2,512 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of PACCAR by 11.6% during the fourth quarter. Handelsbanken Fonder AB now owns 99,966 shares of the company’s stock valued at $10,398,000 after buying an additional 10,398 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity

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 transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Truist Financial raised their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Evercore ISI cut their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

PACCAR Stock Performance

PACCAR stock opened at $104.46 on Monday. The stock’s 50 day simple moving average is $107.50 and its two-hundred day simple moving average is $105.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market cap of $54.82 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.77 and a beta of 0.92. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

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.