Gilliland Jeter Wealth Management LLC Buys New Shares in PACCAR Inc (NASDAQ:PCAR)

Gilliland Jeter Wealth Management LLC purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,355 shares of the company’s stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCAR. OFI Invest Asset Management bought a new position in PACCAR during the third quarter worth about $26,000. AdvisorNet Financial Inc raised its stake in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of PACCAR in the third quarter valued at approximately $30,000. Finally, NBC Securities Inc. bought a new position in shares of PACCAR in the third quarter valued at approximately $34,000. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. Royal Bank of Canada initiated coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target for the company. TD Cowen lifted their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Finally, Truist Financial initiated coverage on shares of PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 target price for the company. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of 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 legal filing with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the sale, the vice president now owns 5,726 shares in the company, valued at approximately $584,739.12. The disclosure for this sale can be found here. Insiders have sold a total of 141,293 shares of company stock worth $14,581,337 in the last 90 days. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PACCAR stock traded down $0.66 during mid-day trading on Friday, hitting $111.96. 2,802,541 shares of the company’s stock traded hands, compared to its average volume of 2,224,804. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. The firm has a 50 day simple moving average of $116.58 and a two-hundred day simple moving average of $101.77. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The stock has a market cap of $58.67 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.69 and a beta of 0.92.

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

PACCAR Dividend Announcement

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

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.