Sequoia Financial Advisors LLC Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

15 Apr 2024

Defense World

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Sequoia Financial Advisors LLC Increases Holdings in PACCAR Inc
NASDAQPCAR

Sequoia Financial Advisors LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR – Free Report) by 76.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,894 shares of the company’s stock after buying an additional 4,705 shares during the period. Sequoia Financial Advisors LLC’s holdings in PACCAR were worth $1,064,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PCAR. OFI Invest Asset Management purchased a new position in shares of PACCAR during the 3rd quarter valued at about $26,000. AdvisorNet Financial Inc increased its stake in PACCAR by 188.5% in the 4th 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. increased its stake in PACCAR by 61.9% in the 3rd 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 purchased a new position in PACCAR in the 3rd quarter worth approximately $30,000. Finally, Achmea Investment Management B.V. purchased a new position in PACCAR in the 1st quarter worth approximately $33,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PCAR shares. The Goldman Sachs Group lifted their price target on PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Evercore ISI lifted their price target on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. lifted their price target on PACCAR from $116.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Truist Financial initiated coverage on PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price objective on the stock. Eight investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.39.

View Our Latest Stock Analysis on PCAR

PACCAR Trading Down 0.6 %

NASDAQ PCAR opened at $118.16 on Monday. 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 Inc has a twelve month low of $68.40 and a twelve month high of $125.50. The firm has a market capitalization of $61.92 billion, a PE ratio of 13.47, a P/E/G ratio of 1.79 and a beta of 0.92. The stock’s 50 day moving average is $114.94 and its 200 day moving average is $100.01.

PACCAR (NASDAQ:PCAR – Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the company posted $1.76 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Research analysts forecast that PACCAR Inc will post 8.16 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.91%. PACCAR’s dividend payout ratio is presently 12.31%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is currently owned by corporate insiders.

About PACCAR

(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.