Edge Capital Group LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Edge Capital Group LLC bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,395 shares of the company’s stock, valued at approximately $1,809,000.

Several other institutional investors have also recently made changes to their positions in PCAR. Private Advisor Group LLC raised its position in shares of PACCAR by 20.6% in the third quarter. Private Advisor Group LLC now owns 26,118 shares of the company’s stock worth $2,577,000 after buying an additional 4,457 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of PACCAR by 7,540.3% in the third quarter. International Assets Investment Management LLC now owns 289,034 shares of the company’s stock worth $28,522,000 after buying an additional 285,251 shares in the last quarter. Forsta AP Fonden raised its position in shares of PACCAR by 11.7% in the third quarter. Forsta AP Fonden now owns 184,500 shares of the company’s stock worth $18,206,000 after buying an additional 19,300 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of PACCAR by 11.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 385,473 shares of the company’s stock worth $38,038,000 after buying an additional 38,498 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of PACCAR by 6.6% in the third quarter. GHP Investment Advisors Inc. now owns 57,351 shares of the company’s stock worth $5,659,000 after buying an additional 3,563 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.9 %

NASDAQ PCAR opened at $104.46 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock has a market capitalization of $54.82 billion, a PE ratio of 13.21, a PEG ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business’s 50-day moving average is $107.50 and its 200 day moving average is $105.34.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (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%. Sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were 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 $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last three months. Company insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI lowered their price objective 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 reduced 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. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

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.