Belpointe Asset Management LLC Buys New Shares in PACCAR Inc (NASDAQ:PCAR)

Belpointe Asset Management LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 864 shares of the company’s stock, valued at approximately $85,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Friedenthal Financial purchased a new position in PACCAR in the 4th quarter worth approximately $777,000. Capital Investment Counsel Inc boosted its position in shares of PACCAR by 27.5% during the fourth quarter. Capital Investment Counsel Inc now owns 6,950 shares of the company’s stock worth $688,000 after acquiring an additional 1,500 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in PACCAR by 6.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,091,710 shares of the company’s stock valued at $108,047,000 after acquiring an additional 65,873 shares in the last quarter. Pacific Sage Partners LLC bought a new stake in PACCAR in the 4th quarter valued at $1,206,000. Finally, Burney Co. lifted its stake in PACCAR by 145.6% in the 4th quarter. Burney Co. now owns 9,740 shares of the company’s stock worth $964,000 after purchasing an additional 5,775 shares in the last quarter. 63.92% of the stock is owned by institutional investors.

PACCAR Stock Performance

Shares of PACCAR stock opened at $71.75 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $71.85 and its two-hundred day moving average is $59.12. PACCAR Inc has a 52 week low of $51.33 and a 52 week high of $76.71. The company has a market capitalization of $37.50 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 0.91 and a beta of 0.91.

PACCAR (NASDAQ:PCAR – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.43. PACCAR had a net margin of 10.20% and a return on equity of 27.38%. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.79 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, analysts expect that PACCAR Inc will post 7.83 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 7th. Shareholders of record on Wednesday, May 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, May 16th. PACCAR’s dividend payout ratio (DPR) is presently 16.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Credit Suisse Group lifted their target price on PACCAR from $75.00 to $84.00 in a report on Wednesday, April 26th. Morgan Stanley reduced their price objective on PACCAR to $64.89 and set an “overweight” rating on the stock in a research note on Tuesday, February 7th. BMO Capital Markets increased their target price on PACCAR from $60.00 to $81.50 in a research report on Thursday, April 27th. OTR Global cut shares of PACCAR to a “positive” rating in a research report on Wednesday, April 12th. Finally, Raymond James upped their price target on shares of PACCAR from $58.00 to $60.00 and gave the company a “strong-buy” rating in a research note on Friday, February 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $57.36.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,442 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $74.85, for a total transaction of $182,783.70. Following the transaction, the vice president now owns 3,230 shares in the company, valued at $241,765.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Michael T. Barkley sold 25,072 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $75.50, for a total value of $1,892,936.00. Following the completion of the sale, the vice president now owns 51,565 shares of the company’s stock, valued at approximately $3,893,157.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,442 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $74.85, for a total transaction of $182,783.70. Following the transaction, the vice president now owns 3,230 shares in the company, valued at $241,765.50. The disclosure for this sale can be found here. Insiders sold a total of 95,529 shares of company stock valued at $7,062,964 in the last ninety days. Corporate insiders own 2.06% of the company’s stock.

PACCAR Company Profile

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PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.