Paradiem LLC Purchases 283 Shares of PACCAR Inc (NASDAQ:PCAR)

Paradiem LLC lifted its position in PACCAR Inc (NASDAQ:PCAR) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,036 shares of the company’s stock after buying an additional 283 shares during the quarter. PACCAR comprises approximately 3.2% of Paradiem LLC’s holdings, making the stock its 12th biggest position. Paradiem LLC’s holdings in PACCAR were worth $11,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Simon Quick Advisors LLC boosted its position in shares of PACCAR by 21.2% in the fourth quarter. Simon Quick Advisors LLC now owns 3,745 shares of the company’s stock valued at $390,000 after acquiring an additional 654 shares during the period. Atomi Financial Group Inc. raised its holdings in PACCAR by 10.1% in the 4th quarter. Atomi Financial Group Inc. now owns 4,574 shares of the company’s stock valued at $476,000 after buying an additional 419 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in PACCAR by 0.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 25,972 shares of the company’s stock valued at $2,702,000 after purchasing an additional 167 shares during the period. Ballentine Partners LLC increased its position in PACCAR by 5.6% during the 4th quarter. Ballentine Partners LLC now owns 6,203 shares of the company’s stock valued at $645,000 after purchasing an additional 327 shares during the period. Finally, Smart Money Group LLC grew its position in shares of PACCAR by 7.6% during the 4th quarter. Smart Money Group LLC now owns 6,174 shares of the company’s stock worth $642,000 after buying an additional 438 shares during the period. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

NASDAQ PCAR opened at $109.84 on Thursday. The stock has a market capitalization of $57.59 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.78 and a beta of 0.93. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $110.84 and a 200 day moving average of $104.19.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period in the previous year, the business earned $2.34 EPS. PACCAR’s quarterly revenue was down 5.2% on a year-over-year basis. Sell-side analysts anticipate that PACCAR Inc will post 7.93 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 13.41%.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 15.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PCAR. Morgan Stanley dropped their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, Truist Financial boosted their price objective on PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $120.13.

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.