Berkshire Asset Management LLC PA Invests $326,000 in PACCAR Inc (NASDAQ:PCAR)

Berkshire Asset Management LLC PA bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,963 shares of the company’s stock, valued at approximately $326,000.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of PACCAR in the fourth quarter valued at $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR during the 4th quarter worth about $37,000. Regents Gate Capital LLP acquired a new position in PACCAR in the 4th quarter valued at about $44,000. Ashton Thomas Securities LLC bought a new position in PACCAR in the 3rd quarter valued at about $52,000. Finally, AdvisorNet Financial Inc lifted its position in PACCAR by 223.4% during the fourth 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. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s 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 completion of the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % 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 worth $18,261,908 over the last 90 days. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCAR. 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 decreased their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Evercore ISI lowered their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Stock Performance

Shares of PACCAR stock opened at $110.06 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market cap of $57.76 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a 50 day moving average of $107.27 and a 200-day moving average of $106.01. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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, equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed 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 of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 16.69%.

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.