Oppenheimer Asset Management Inc. Increases Position in PACCAR Inc (NASDAQ:PCAR)

Oppenheimer Asset Management Inc. increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,058 shares of the company’s stock after purchasing an additional 3,573 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PACCAR were worth $8,640,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PCAR. Everence Capital Management Inc. bought a new stake in PACCAR during the fourth quarter valued at about $1,984,000. Sanctuary Advisors LLC grew its position in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. raised its stake 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 purchasing an additional 5,433 shares during the period. Insight Wealth Strategies LLC raised its stake 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 purchasing an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $105.50 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market capitalization of $55.37 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.77 and a beta of 0.92. The firm’s 50-day moving average is $107.20 and its 200 day moving average is $105.53.

PACCAR (NASDAQ:PCAR) last released 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 12.36% and a return on equity of 23.53%. Research analysts predict that PACCAR Inc will post 7.57 EPS for the current 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 paid a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PCAR shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Evercore ISI reduced their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Truist Financial raised their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were 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 trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by insiders.

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.