Absolute Capital Management LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Absolute Capital Management LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,200 shares of the company’s stock, valued at approximately $312,000.

Other large investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its position in PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. OFI Invest Asset Management bought a new position in shares of PACCAR in the third quarter worth $26,000. ST Germain D J Co. Inc. boosted its stake in PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 130 shares in the last quarter. Arlington Trust Co LLC bought a new position in PACCAR during the third quarter valued at about $30,000. Finally, ORG Partners LLC boosted its stake in PACCAR by 6,200.0% during the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after buying an additional 372 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Insiders have sold 141,293 shares of company stock valued at $14,581,337 in the last 90 days. 2.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on PCAR shares. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. raised their target price on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Evercore ISI raised their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group raised their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, TD Cowen raised their target price on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.08.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $111.96 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The firm has a market cap of $58.67 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.68 and a beta of 0.92. The business’s 50-day simple moving average is $116.58 and its 200-day simple moving average is $101.87. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR Dividend Announcement

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

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.