CX Institutional Has $1.23 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

CX Institutional boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,829 shares of the company’s stock after acquiring an additional 585 shares during the quarter. CX Institutional’s holdings in PACCAR were worth $1,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in PACCAR by 3.2% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 690,665 shares of the company’s stock valued at $71,560,000 after acquiring an additional 21,607 shares in the last quarter. Brighton Jones LLC increased its position in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after acquiring an additional 290 shares during the last quarter. Secure Asset Management LLC boosted its position in PACCAR by 4.7% during the fourth quarter. Secure Asset Management LLC now owns 3,352 shares of the company’s stock valued at $349,000 after purchasing an additional 151 shares during the last quarter. Donoghue Forlines LLC bought a new position in PACCAR in the fourth quarter valued at approximately $1,445,000. Finally, Madrona Financial Services LLC increased its position in shares of PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on 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 owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the 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 completion of the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. This represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,085 shares of company stock valued at $6,012,070. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

NASDAQ PCAR opened at $109.90 on Friday. The firm’s 50 day simple moving average is $110.60 and its 200 day simple moving average is $104.27. The firm has a market capitalization of $57.62 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 2.77 and a beta of 0.93. 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 Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm 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 business posted $2.34 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, research analysts expect that PACCAR Inc will post 7.93 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. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 13.41%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.23.

About PACCAR

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.