Aaron Wealth Advisors LLC Acquires 676 Shares of PACCAR Inc (NASDAQ:PCAR)

Aaron Wealth Advisors LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 13.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,804 shares of the company’s stock after acquiring an additional 676 shares during the period. Aaron Wealth Advisors LLC’s holdings in PACCAR were worth $604,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kera Capital Partners Inc. bought a new stake in PACCAR during the fourth quarter worth approximately $246,000. HB Wealth Management LLC boosted its holdings in shares of PACCAR by 9.3% in the 4th quarter. HB Wealth Management LLC now owns 35,661 shares of the company’s stock worth $3,710,000 after purchasing an additional 3,046 shares during the period. Merit Financial Group LLC boosted its holdings in shares of PACCAR by 99.0% in the 4th quarter. Merit Financial Group LLC now owns 8,089 shares of the company’s stock worth $841,000 after purchasing an additional 4,025 shares during the period. First National Bank of Mount Dora Trust Investment Services increased its position in shares of PACCAR by 4.8% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 21,621 shares of the company’s stock valued at $2,249,000 after purchasing an additional 983 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in PACCAR during the 4th quarter valued at $4,929,000. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In other news, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares in the company, valued at approximately $761,947. This trade represents a 58.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on PCAR. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Truist Financial increased their price target on PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $120.13.

PACCAR Stock Performance

Shares of PACCAR stock opened at $110.33 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average price is $111.10 and its 200-day moving average price is $104.05. The firm has a market cap of $57.85 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.72 and a beta of 0.93. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter last year, the firm posted $2.34 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc will post 7.92 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 13.41%.

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.