Paradigm Asset Management Co. LLC Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

Paradigm Asset Management Co. LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,100 shares of the company’s stock, valued at approximately $947,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JLB & Associates Inc. boosted its stake in shares of PACCAR by 13.5% during the fourth quarter. JLB & Associates Inc. now owns 39,587 shares of the company’s stock valued at $4,118,000 after purchasing an additional 4,712 shares in the last quarter. Lakeside Advisors INC. boosted its stake in PACCAR by 46.0% in the fourth quarter. Lakeside Advisors INC. now owns 33,268 shares of the company’s stock valued at $3,460,000 after acquiring an additional 10,483 shares in the last quarter. Parcion Private Wealth LLC boosted its stake in PACCAR by 0.9% in the fourth quarter. Parcion Private Wealth LLC now owns 268,617 shares of the company’s stock valued at $27,942,000 after acquiring an additional 2,512 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in PACCAR by 11.6% in the fourth quarter. Handelsbanken Fonder AB now owns 99,966 shares of the company’s stock valued at $10,398,000 after acquiring an additional 10,398 shares in the last quarter. Finally, Mcdaniel Terry & Co. boosted its stake in PACCAR by 4.8% in the fourth quarter. Mcdaniel Terry & Co. now owns 404,434 shares of the company’s stock valued at $42,069,000 after acquiring an additional 18,689 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

NASDAQ:PCAR opened at $106.46 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $107.67 and a two-hundred day moving average price of $105.07. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a market capitalization of $55.82 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results 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, research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

Analysts Set New Price Targets

PCAR has been the subject of several recent research reports. 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 cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday. Citigroup cut their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.77.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 over the last ninety days. Corporate insiders own 2.02% of the company’s stock.

About PACCAR

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.