LM Advisors LLC Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

LM Advisors LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, HoldingsChannel.com reports. The fund bought 9,549 shares of the company’s stock, valued at approximately $1,022,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth approximately $37,000. Kestra Investment Management LLC acquired a new position in PACCAR during the fourth quarter worth $37,000. OFI Invest Asset Management purchased a new position in PACCAR during the fourth quarter valued at $43,000. Atala Financial Inc acquired a new stake in PACCAR in the 4th quarter worth about $43,000. Finally, Regents Gate Capital LLP purchased a new stake in PACCAR during the 4th quarter worth approximately $44,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR opened at $99.53 on Thursday. The firm has a 50-day simple moving average of $105.68 and a two-hundred day simple moving average of $106.60. The stock has a market cap of $52.25 billion, a PE ratio of 12.58, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last posted its earnings results 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 forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.33%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last three months. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research reports. Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $124.00 to $108.00 in a research note on Tuesday, March 18th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.38.

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.