Rossby Financial LCC Makes New $206,000 Investment in PACCAR Inc (NASDAQ:PCAR)

Rossby Financial LCC acquired a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,981 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. boosted its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new position in PACCAR in the 4th quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in PACCAR in the 4th quarter valued at about $37,000. OFI Invest Asset Management acquired a new stake in PACCAR during the 4th quarter worth approximately $43,000. Finally, Atala Financial Inc acquired a new stake in PACCAR during the 4th quarter worth approximately $43,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the subject of several analyst reports. Evercore ISI cut their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Citigroup cut their price objective on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. Truist Financial cut their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.13.

PACCAR Stock Performance

NASDAQ:PCAR opened at $88.82 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market cap of $46.62 billion, a PE ratio of 11.23, a P/E/G ratio of 2.77 and a beta of 0.96. The firm has a 50 day simple moving average of $100.20 and a 200-day simple moving average of $106.03. PACCAR Inc has a 1-year low of $85.10 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is currently 16.69%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % 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, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, 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 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is owned by company 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.