Catalyst Funds Management Pty Ltd Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Catalyst Funds Management Pty Ltd bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,400 shares of the company’s stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in shares of PACCAR in the fourth quarter valued at about $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR in the fourth quarter valued at about $37,000. Atala Financial Inc acquired a new stake in shares of PACCAR in the fourth quarter valued at about $43,000. Regents Gate Capital LLP acquired a new stake in shares of PACCAR in the fourth quarter valued at about $44,000. Finally, OFI Invest Asset Management acquired a new stake in shares of PACCAR in the fourth quarter valued at about $43,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

PACCAR stock opened at $99.21 on Monday. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock’s 50 day moving average is $107.17 and its 200-day moving average is $106.43. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $52.07 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is presently 16.69%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.35.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by 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.