Sage Mountain Advisors LLC Invests $258,000 in PACCAR Inc (NASDAQ:PCAR)

Sage Mountain Advisors LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, Holdings Channel reports. The fund acquired 2,478 shares of the company’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Golden State Wealth Management LLC bought a new position in shares of PACCAR during the 4th quarter worth about $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR during the 4th quarter worth about $37,000. OFI Invest Asset Management bought a new position in shares of PACCAR during the 4th quarter worth about $43,000. Regents Gate Capital LLP bought a new position in shares of PACCAR during the 4th quarter worth about $44,000. Finally, Ashton Thomas Securities LLC bought a new position in PACCAR during the 3rd quarter valued at about $52,000. 64.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PCAR. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Evercore ISI cut their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR Trading Down 2.3 %

PCAR opened at $102.33 on Thursday. 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 stock has a market capitalization of $53.70 billion, a PE ratio of 12.94, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a 50-day moving average price of $107.39 and a two-hundred day moving average price of $106.29.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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, equities analysts anticipate 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. Stockholders 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 currently 16.69%.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was 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 of the company’s stock, valued at approximately $22,876,196.42. This represents a 10.89 % 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 in the last quarter. 2.02% of the stock is owned by company insiders.

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.