NEOS Investment Management LLC Boosts Holdings in PACCAR Inc (NASDAQ:PCAR)

NEOS Investment Management LLC increased its position in PACCAR Inc (NASDAQ:PCAR) by 25.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,343 shares of the company’s stock after purchasing an additional 13,742 shares during the quarter. NEOS Investment Management LLC’s holdings in PACCAR were worth $7,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of PACCAR during the 4th quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the fourth quarter valued at $37,000. OFI Invest Asset Management bought a new position in PACCAR during the 4th quarter valued at $43,000. Atala Financial Inc acquired a new position in PACCAR during the 4th quarter worth $43,000. Finally, Regents Gate Capital LLP bought a new stake in shares of PACCAR in the 4th quarter worth about $44,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research analyst reports. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Truist Financial raised their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Evercore ISI reduced their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.38.

Insider Buying and Selling

In related news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction 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. The trade was a 62.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Down 1.3 %

Shares of PACCAR stock opened at $98.19 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a market cap of $51.54 billion, a P/E ratio of 12.41, a P/E/G ratio of 2.77 and a beta of 0.91. 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 stock has a 50-day moving average price of $105.45 and a 200 day moving average price of $106.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly 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 return on equity of 23.53% and a net margin of 12.36%. As a group, analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. PACCAR’s dividend payout ratio is 16.69%.

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.