GAMMA Investing LLC Buys New Holdings in PACCAR Inc (NASDAQ:PCAR)

GAMMA Investing LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,629 shares of the company’s stock, valued at approximately $364,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. OFI Invest Asset Management acquired a new stake in PACCAR during the third quarter worth approximately $26,000. AdvisorNet Financial Inc raised its holdings in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. ST Germain D J Co. Inc. increased its holdings in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Arlington Trust Co LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at $30,000. Finally, NBC Securities Inc. acquired a new position in shares of PACCAR in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Kevin D. Baney sold 7,203 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the sale, the senior vice president now directly owns 6,621 shares in the company, valued at approximately $682,161.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock worth $15,834,812 in the last three months. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. 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 on the stock. The Goldman Sachs Group lifted 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 on the stock. Evercore ISI lifted their target price on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, TD Cowen lifted their target price on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Eight equities 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.82.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $113.74 on Thursday. The firm has a market capitalization of $59.60 billion, a P/E ratio of 12.97, a PEG ratio of 1.70 and a beta of 0.92. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The company’s fifty day moving average is $116.40 and its two-hundred day moving average is $101.52. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 EPS. Analysts forecast that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. PACCAR’s dividend payout ratio is presently 12.31%.

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.