Signet Financial Management LLC Reduces Stake in PACCAR Inc (NASDAQ:PCAR)

Signet Financial Management LLC reduced its position in PACCAR Inc (NASDAQ:PCAR) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,062 shares of the company’s stock after selling 164 shares during the period. Signet Financial Management LLC’s holdings in PACCAR were worth $787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prudential PLC bought a new position in PACCAR in the 1st quarter worth $763,000. Vanguard Group Inc. raised its holdings in PACCAR by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after purchasing an additional 698,784 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in PACCAR by 66.0% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock worth $6,046,000 after purchasing an additional 27,300 shares during the period. Covestor Ltd raised its holdings in PACCAR by 73.6% in the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock worth $187,000 after purchasing an additional 898 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in PACCAR by 0.7% in the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock worth $9,399,000 after purchasing an additional 792 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of PCAR opened at $117.54 on Wednesday. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The stock has a fifty day moving average price of $115.48 and a 200-day moving average price of $100.46. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The firm has a market cap of $61.59 billion, a PE ratio of 13.40, a P/E/G ratio of 1.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the business posted $1.76 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock worth $15,834,812 in the last ninety days. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target on the stock. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target on the stock. Finally, The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.82.

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.