Secure Asset Management LLC Has $349,000 Stake in PACCAR Inc (NASDAQ:PCAR)

Secure Asset Management LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,352 shares of the company’s stock after purchasing an additional 151 shares during the quarter. Secure Asset Management LLC’s holdings in PACCAR were worth $349,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after buying an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in PACCAR in the 3rd quarter valued at approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in PACCAR by 115.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after acquiring an additional 576,532 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,085 shares of company stock valued at $6,012,070 in the last three months. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 0.1 %

PCAR stock opened at $109.90 on Friday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The business’s 50 day simple moving average is $110.60 and its 200 day simple moving average is $104.27. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $57.62 billion, a PE ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.34 earnings per share. As a group, research analysts anticipate that PACCAR Inc will post 7.93 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 13.41%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup reduced their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Truist Financial increased their price target on PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $121.23.

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.