Gilliland Jeter Wealth Management LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Gilliland Jeter Wealth Management LLC purchased a new stake in PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,355 shares of the company’s stock, valued at approximately $425,000.

Several other large investors have also modified their holdings of PCAR. AdvisorNet Financial Inc raised its holdings in shares of PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the 3rd quarter valued at $26,000. ST Germain D J Co. Inc. raised its holdings in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 130 shares during the period. Arlington Trust Co LLC purchased a new stake in PACCAR during the 3rd quarter worth about $30,000. Finally, ORG Partners LLC increased its holdings in PACCAR by 6,200.0% during the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after purchasing an additional 372 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,293 shares of company stock worth $14,581,337. 2.02% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PCAR shares. Truist Financial started coverage on PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Royal Bank of Canada began coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target on the stock. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, TD Cowen increased their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.82.

PACCAR Price Performance

NASDAQ PCAR traded down $0.66 during mid-day trading on Friday, hitting $111.96. The stock had a trading volume of 2,802,541 shares, compared to its average volume of 2,224,804. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The company has a market cap of $58.67 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.69 and a beta of 0.92. The company has a 50 day simple moving average of $116.58 and a 200 day simple moving average of $101.77. 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 released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the business posted $1.76 earnings per share. PACCAR’s revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that PACCAR Inc will post 8.21 EPS 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 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is 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.