Watershed Asset Management L.L.C. Buys Shares of 3,024 PACCAR Inc (NASDAQ:PCAR)

Watershed Asset Management L.L.C. purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, HoldingsChannel reports. The firm purchased 3,024 shares of the company’s stock, valued at approximately $295,000.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of PACCAR during the third quarter worth $26,000. AdvisorNet Financial Inc lifted its holdings in shares of PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. ST Germain D J Co. Inc. lifted its holdings in shares of PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Arlington Trust Co LLC acquired a new position in shares of PACCAR during the third quarter worth $30,000. Finally, NBC Securities Inc. acquired a new position in shares of PACCAR during the third quarter worth $34,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In other news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last three months. 2.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PCAR. The Goldman Sachs Group lifted their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Truist Financial began coverage on shares of PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 target price for the company. Evercore ISI lifted their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $110.82.

PACCAR Stock Up 0.7 %

PCAR traded up $0.74 during midday trading on Tuesday, hitting $113.32. The company had a trading volume of 2,399,673 shares, compared to its average volume of 2,307,863. The company has a market capitalization of $59.38 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.67 and a beta of 0.92. The stock’s 50 day moving average price is $116.26 and its 200 day moving average price is $101.43. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. On average, research analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

PACCAR Company 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.