Interchange Capital Partners LLC Has $230,000 Position in PACCAR Inc (NASDAQ:PCAR)

Interchange Capital Partners LLC lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 10.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,214 shares of the company’s stock after selling 255 shares during the period. Interchange Capital Partners LLC’s holdings in PACCAR were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Everence Capital Management Inc. bought a new stake in PACCAR during the 4th quarter worth about $1,984,000. Cullen Frost Bankers Inc. grew its stake in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after purchasing an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PCAR shares. JPMorgan Chase & Co. decreased their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Citigroup dropped their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average target price of $118.23.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR opened at $98.64 on Tuesday. The stock has a market cap of $51.77 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $106.10 and a 200 day simple moving average of $106.60.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, research analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is 16.69%.

PACCAR Company 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.