Hexagon Capital Partners LLC Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Hexagon Capital Partners LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 62.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,811 shares of the company’s stock after purchasing an additional 697 shares during the period. Hexagon Capital Partners LLC’s holdings in PACCAR were worth $177,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PCAR. Raymond James & Associates lifted its position in PACCAR by 29.1% in the third quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock valued at $6,769,000 after acquiring an additional 17,953 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in PACCAR by 15.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 90,658 shares of the company’s stock valued at $7,708,000 after acquiring an additional 12,451 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in PACCAR in the third quarter valued at $30,000. Independent Advisor Alliance lifted its position in PACCAR by 673.2% in the third quarter. Independent Advisor Alliance now owns 45,827 shares of the company’s stock valued at $3,896,000 after acquiring an additional 39,900 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its position in PACCAR by 1.1% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 251,619 shares of the company’s stock valued at $21,393,000 after acquiring an additional 2,700 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,117 shares of company stock worth $6,510,010. 2.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Morgan Stanley assumed coverage on shares of PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price for the company. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Truist Financial assumed coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.31.

PACCAR Trading Up 0.2 %

Shares of PACCAR stock opened at $106.34 on Thursday. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The company has a quick ratio of 2.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.54. The company’s 50-day simple moving average is $116.62 and its 200-day simple moving average is $102.36. The firm has a market cap of $55.72 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period in the previous year, the business posted $2.25 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that PACCAR Inc will post 8.23 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.30 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, May 14th. PACCAR’s dividend payout ratio is presently 11.20%.

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.