Fortem Financial Group LLC Purchases 747 Shares of PACCAR Inc (NASDAQ:PCAR)

Fortem Financial Group LLC increased its position in PACCAR Inc (NASDAQ:PCAR) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,820 shares of the company’s stock after acquiring an additional 747 shares during the quarter. Fortem Financial Group LLC’s holdings in PACCAR were worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of PACCAR during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR in the second quarter worth approximately $36,000. Grove Bank & Trust grew its position in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the period. Finally, Sander Capital Advisors Inc. purchased a new stake in PACCAR during the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PCAR shares. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Citigroup upped their price target on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $118.50.

PACCAR Price Performance

NASDAQ PCAR traded up $2.13 on Monday, reaching $107.03. The company had a trading volume of 1,285,009 shares, compared to its average volume of 1,508,935. The stock has a market capitalization of $56.12 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average price is $110.98 and its 200 day moving average price is $103.74.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The business’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date is Friday, December 20th. PACCAR’s dividend payout ratio is currently 14.75%.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by corporate insiders.

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.