Prime Capital Investment Advisors LLC Invests $261000 in PACCAR Inc (NASDAQ:PCAR)

15 Apr 2024

Defense World

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Prime Capital Investment Advisors LLC Invests 261000 in PACCAR Inc
NASDAQPCAR

Prime Capital Investment Advisors LLC bought a new position in PACCAR Inc (NASDAQ:PCAR – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,673 shares of

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FORVIS Wealth Advisors LLC increased its stake in shares of PACCAR by 0.5% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after buying an additional 109 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of PACCAR by 0.9% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after buying an additional 124 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of PACCAR by 1.9% in the third quarter. CIBC Private Wealth Group LLC now owns 6,654 shares of the company’s stock worth $557,000 after buying an additional 124 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of PACCAR by 8.2% in the first quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock worth $145,000 after buying an additional 125 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of PACCAR by 39.3% in the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after buying an additional 127 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

PCAR stock opened at $118.16 on Friday. The company has a market capitalization of $61.92 billion, a P/E ratio of 13.47, a PEG ratio of 1.80 and a beta of 0.92. The company has a 50-day simple moving average of $114.94 and a 200 day simple moving average of $99.90. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two 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 – Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 earnings per share. Sell-side analysts predict that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 4,829 shares of the company’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 sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The disclosure for this sale can be found here. In the last three months, insiders sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on PCAR shares. Morgan Stanley started coverage on shares of PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. Evercore ISI boosted their target price on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Eight equities research 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 stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $109.39.

View Our Latest Stock Report on PACCAR

PACCAR Profile

(Free Report)

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.