Montag A & Associates Inc. Buys 2,508 Shares of PACCAR Inc (NASDAQ:PCAR)

Montag A & Associates Inc. boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,012 shares of the company’s stock after purchasing an additional 2,508 shares during the period. Montag A & Associates Inc.’s holdings in PACCAR were worth $1,916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in PACCAR in the 3rd quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its position in PACCAR by 188.5% in the 4th 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 period. NBC Securities Inc. acquired a new position in PACCAR in the 3rd quarter valued at approximately $34,000. Bruce G. Allen Investments LLC acquired a new position in PACCAR in the 4th quarter valued at approximately $37,000. Finally, ORG Partners LLC increased its position in PACCAR by 6,200.0% in the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after acquiring an additional 372 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,770 shares of company stock valued at $8,244,517. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial restated a “hold” rating and issued a $121.00 price target (up from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Evercore ISI increased their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Royal Bank of Canada assumed coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. Finally, TD Cowen increased their price objective on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $112.62.

PACCAR Stock Performance

Shares of PCAR traded up $1.87 during trading hours on Thursday, hitting $108.92. The company’s stock had a trading volume of 1,887,258 shares, compared to its average volume of 2,456,158. The company has a market cap of $57.09 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The business has a 50 day simple moving average of $116.10 and a two-hundred day simple moving average of $103.15. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. On average, equities analysts expect that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.10%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is currently 11.20%.

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.