Syon Capital LLC Purchases 574 Shares of PACCAR Inc (NASDAQ:PCAR)

Syon Capital LLC grew its position in PACCAR Inc (NASDAQ:PCAR) by 9.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,494 shares of the company’s stock after buying an additional 574 shares during the period. Syon Capital LLC’s holdings in PACCAR were worth $634,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in PACCAR by 18.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after purchasing an additional 16,360 shares in the last quarter. abrdn plc boosted its stake in PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock worth $25,853,000 after purchasing an additional 89,359 shares in the last quarter. Aigen Investment Management LP acquired a new stake in PACCAR in the 3rd quarter worth approximately $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in PACCAR by 42.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock worth $47,518,000 after purchasing an additional 166,628 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after purchasing an additional 16,390 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,293 shares of company stock valued at $14,581,337. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

NASDAQ PCAR traded down $0.66 on Friday, hitting $111.96. The company had a trading volume of 2,624,195 shares, compared to its average volume of 2,331,184. The company has a market capitalization of $58.67 billion, a PE ratio of 12.84, a PEG ratio of 1.71 and a beta of 0.92. The company’s fifty day moving average price is $116.49 and its 200-day moving average price is $101.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 EPS. As a group, analysts predict that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

Analyst Ratings Changes

Several brokerages have commented on PCAR. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $104.00 to $136.00 in a research note on Friday, March 15th. The Goldman Sachs Group lifted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Truist Financial began coverage on shares of PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 price objective for the company. Morgan Stanley began coverage on shares of PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective for the company. Finally, Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus target price of $110.82.

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.