Moore Capital Management LP Takes $8.86 Million Position in PACCAR Inc (NASDAQ:PCAR)

Moore Capital Management LP acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, HoldingsChannel reports. The fund acquired 85,201 shares of the company’s stock, valued at approximately $8,863,000.

Other large investors have also modified their holdings of the company. Madrona Financial Services LLC grew its position in PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after buying an additional 91 shares in the last quarter. Global Financial Private Client LLC raised its stake in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after acquiring an additional 97 shares during the last quarter. PDS Planning Inc boosted its position in PACCAR by 3.7% in the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after buying an additional 101 shares during the last quarter. Valley National Advisers Inc. grew its position in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after buying an additional 106 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PACCAR by 14.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock worth $88,000 after buying an additional 107 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pierre R. Breber acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PCAR. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. StockNews.com raised PACCAR from a “sell” rating to a “hold” rating in a report on Friday. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and cut their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. Royal Bank of Canada decreased their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Truist Financial cut their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus price target of $105.23.

PACCAR Trading Down 1.0%

Shares of PCAR stock opened at $90.61 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $47.57 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96. The stock has a 50-day moving average of $94.45 and a 200-day moving average of $104.20. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter last year, the business posted $2.27 earnings per share. PACCAR’s revenue was down 16.0% on a year-over-year basis. On average, equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. PACCAR’s payout ratio is currently 20.00%.

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.