Smith Group Asset Management LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Smith Group Asset Management LLC purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,000 shares of the company’s stock, valued at approximately $624,000.

Other hedge funds have also recently made changes to their positions in the company. Everence Capital Management Inc. bought a new stake in PACCAR in the fourth quarter worth $1,984,000. Sanctuary Advisors LLC lifted its stake in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. boosted its holdings in PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after acquiring an additional 5,433 shares during the period. Insight Wealth Strategies LLC boosted its holdings in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC increased its stake 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 period. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the firm’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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of several recent analyst reports. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley lowered their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.23.

PACCAR Trading Down 2.4 %

NASDAQ PCAR opened at $107.25 on Wednesday. The firm has a market capitalization of $56.23 billion, a PE ratio of 11.98, a P/E/G ratio of 2.77 and a beta of 0.93. The stock’s 50 day moving average is $110.45 and its 200 day moving average is $104.45. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its 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 net margin of 13.51% and a return on equity of 27.24%. Research analysts forecast that PACCAR Inc will post 7.93 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued 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 dividend payout ratio is 13.41%.

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.