Catalyst Capital Advisors LLC Sells 161 Shares of PACCAR Inc (NASDAQ:PCAR)

Catalyst Capital Advisors LLC trimmed its stake in PACCAR Inc (NASDAQ:PCAR) by 28.2% during the fourth quarter, Holdings Channel reports. The fund owned 409 shares of the company’s stock after selling 161 shares during the period. Catalyst Capital Advisors LLC’s holdings in PACCAR were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PCAR. Golden State Wealth Management LLC purchased a new position in PACCAR in the fourth quarter valued at approximately $37,000. Regents Gate Capital LLP purchased a new position in shares of PACCAR during the 4th quarter valued at $44,000. Ashton Thomas Securities LLC bought a new position in shares of PACCAR during the 3rd quarter worth $52,000. AdvisorNet Financial Inc increased its holdings in PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after acquiring an additional 391 shares during the last quarter. Finally, Sander Capital Advisors Inc. raised its stake in PACCAR by 22.4% in the 4th quarter. Sander Capital Advisors Inc. now owns 618 shares of the company’s stock valued at $64,000 after acquiring an additional 113 shares during the period. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

PACCAR stock opened at $106.54 on Wednesday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. The stock has a market cap of $55.86 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92. The firm’s fifty day moving average price is $108.15 and its 200-day moving average price is $104.96.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. On average, equities research analysts expect that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given 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 15.17%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,547 shares of company stock valued at $17,625,128 over the last quarter. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Citigroup reduced 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, Truist Financial increased their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $121.95.

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.