PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Traynor Capital Management Inc.

Traynor Capital Management Inc. raised its holdings in PACCAR Inc (NASDAQ:PCAR) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,383 shares of the company’s stock after buying an additional 144 shares during the period. Traynor Capital Management Inc.’s holdings in PACCAR were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PCAR. Everence Capital Management Inc. purchased a new position in shares of PACCAR in the 4th quarter valued at $1,984,000. Sanctuary Advisors LLC increased its position in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. lifted its holdings in shares of PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after purchasing an additional 5,433 shares during the last quarter. Insight Wealth Strategies LLC boosted its position in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC grew its stake in PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PCAR shares. Truist Financial increased their price objective on PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price objective on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus price target of $120.13.

PACCAR Price Performance

PACCAR stock opened at $110.06 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market cap of $57.70 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.93. The business has a fifty day moving average of $110.70 and a two-hundred day moving average of $104.23.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. As a group, analysts predict that PACCAR Inc will post 7.93 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 13.41%.

Insider Activity at PACCAR

In other news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. The trade was a 58.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the 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 completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,085 shares of company stock valued at $6,012,070 in the last ninety days. Corporate insiders own 2.02% of the company’s stock.

About PACCAR

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.