Stoneridge Investment Partners LLC Cuts Stake in PACCAR Inc (NASDAQ:PCAR)

Stoneridge Investment Partners LLC lowered its position in PACCAR Inc (NASDAQ:PCAR) by 0.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,048 shares of the company’s stock after selling 100 shares during the period. Stoneridge Investment Partners LLC’s holdings in PACCAR were worth $1,253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empirical Finance LLC lifted its position in PACCAR by 29.3% in the fourth quarter. Empirical Finance LLC now owns 23,266 shares of the company’s stock valued at $2,420,000 after purchasing an additional 5,270 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in PACCAR by 8.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 4,030 shares of the company’s stock valued at $419,000 after purchasing an additional 308 shares during the last quarter. Vest Financial LLC lifted its position in PACCAR by 13.1% in the fourth quarter. Vest Financial LLC now owns 308,356 shares of the company’s stock valued at $32,075,000 after purchasing an additional 35,635 shares during the last quarter. Cidel Asset Management Inc. lifted its position in PACCAR by 5.2% in the fourth quarter. Cidel Asset Management Inc. now owns 2,998 shares of the company’s stock valued at $312,000 after purchasing an additional 148 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in PACCAR in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $121.95.

PACCAR Price Performance

PCAR opened at $106.02 on Friday. The stock has a fifty day simple moving average of $109.49 and a two-hundred day simple moving average of $104.55. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The company has a market cap of $55.59 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (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%. Research analysts predict that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company 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. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is 15.17%.

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.