Donoghue Forlines LLC Invests $1.45 Million in PACCAR Inc (NASDAQ:PCAR)

Donoghue Forlines LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,893 shares of the company’s stock, valued at approximately $1,445,000.

A number of other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of PACCAR during the third quarter valued at about $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of PACCAR by 115.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after buying an additional 576,532 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on PCAR. Truist Financial increased their target price on shares of PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $120.13.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $109.79 on Thursday. The stock has a market cap of $57.56 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.78 and a beta of 0.93. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a 50 day simple moving average of $110.70 and a two-hundred day simple moving average of $104.23. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The company 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 firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 earnings per share. As a group, analysts predict that PACCAR Inc will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Investors 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 was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 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.