Twin Tree Management LP Acquires 38,276 Shares of PACCAR Inc (NASDAQ:PCAR)

Twin Tree Management LP grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 42.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,306 shares of the company’s stock after buying an additional 38,276 shares during the period. Twin Tree Management LP’s holdings in PACCAR were worth $13,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Madrona Financial Services LLC grew its holdings in PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after buying an additional 91 shares in the last quarter. Global Financial Private Client LLC grew its holdings in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares in the last quarter. Insight Wealth Partners LLC increased its position in PACCAR by 1.4% in the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after purchasing an additional 104 shares during the last quarter. Valley National Advisers Inc. raised its stake in PACCAR by 0.6% during the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after purchasing an additional 106 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PACCAR by 14.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock valued at $88,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR stock opened at $101.17 on Tuesday. The company has a market capitalization of $53.09 billion, a P/E ratio of 12.79, a P/E/G ratio of 2.77 and a beta of 0.91. The company’s 50-day simple moving average is $107.05 and its two-hundred day simple moving average is $106.47. PACCAR Inc has a one year low of $90.04 and a one 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 announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, equities analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors 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 was Friday, December 20th. PACCAR’s payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PCAR. Bank of America upgraded shares of 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 research report on Tuesday, January 14th. Truist Financial raised their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Evercore ISI cut 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. Citigroup lowered their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $120.35.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % 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 over the last three months. 2.02% of the stock is owned by company 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.