Tidal Investments LLC Has $1.07 Million Position in PACCAR Inc (NASDAQ:PCAR)

Tidal Investments LLC cut its position in PACCAR Inc (NASDAQ:PCAR) by 48.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,821 shares of the company’s stock after selling 10,234 shares during the period. Tidal Investments LLC’s holdings in PACCAR were worth $1,068,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PCAR. Quarry LP bought a new position in PACCAR in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. increased its position in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR during the second quarter valued at $36,000. Grove Bank & Trust lifted its holdings in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the period. Finally, Sander Capital Advisors Inc. bought a new stake in shares of PACCAR in the third quarter worth $50,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PCAR shares. Truist Financial raised their target price on PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley dropped their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Citigroup increased their price objective on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $118.50.

PACCAR Price Performance

PCAR stock opened at $107.51 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company’s 50-day moving average is $111.47 and its 200-day moving average is $104.00. The stock has a market capitalization of $56.37 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 earnings per share. Equities research analysts expect that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a $3.00 dividend. The ex-dividend date is Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by corporate insiders.

PACCAR 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.