PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Synergy Asset Management LLC

Synergy Asset Management LLC raised its stake in PACCAR Inc (NASDAQ:PCAR) by 106.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,699 shares of the company’s stock after acquiring an additional 2,936 shares during the period. Synergy Asset Management LLC’s holdings in PACCAR were worth $576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Madrona Financial Services LLC boosted its position in shares of PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after purchasing an additional 91 shares during the period. CVA Family Office LLC lifted its stake in PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after buying an additional 97 shares during the last quarter. Global Financial Private Client LLC boosted its holdings in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after acquiring an additional 97 shares during the period. Omnia Family Wealth LLC grew its position in shares of PACCAR by 2.5% during the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after acquiring an additional 98 shares during the last quarter. Finally, Grove Bank & Trust increased its holdings in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Up 3.4 %

Shares of PACCAR stock opened at $110.89 on Thursday. The company has a 50-day moving average of $110.45 and a two-hundred day moving average of $104.45. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market cap of $58.14 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. On average, research analysts anticipate that PACCAR Inc will post 7.93 EPS for the current fiscal year.

PACCAR Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on PCAR shares. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average price target of $121.32.

PACCAR 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.