Metis Global Partners LLC Has $1.65 Million Position in PACCAR Inc (NASDAQ:PCAR)

Metis Global Partners LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,915 shares of the company’s stock after selling 2,078 shares during the period. Metis Global Partners LLC’s holdings in PACCAR were worth $1,652,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. AdvisorNet Financial Inc grew its stake in PACCAR by 188.5% during 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 in the last quarter. OFI Invest Asset Management acquired a new position in PACCAR in the 3rd quarter valued at approximately $26,000. ORG Partners LLC lifted its position in PACCAR by 6,200.0% in the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after buying an additional 372 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of PACCAR during the 4th quarter valued at $37,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of PACCAR during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 0.0 %

Shares of NASDAQ PCAR opened at $106.61 on Wednesday. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The stock has a market cap of $55.88 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.63 and a beta of 0.96. The firm has a 50 day moving average price of $116.18 and a 200 day moving average price of $103.12.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter last year, the business posted $2.25 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that PACCAR Inc will post 8.26 EPS for the current year.

PACCAR Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on PCAR shares. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Truist Financial reaffirmed a “hold” rating and set a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective on the stock. TD Cowen lifted their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Finally, Bank of America raised 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 report on Friday, January 19th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and an average target price of $112.62.

Insider Activity at PACCAR

In related news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The stock was 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 approximately $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,920 shares of company stock valued at $4,650,324. 2.02% of the stock is owned by corporate insiders.

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.