Harel Insurance Investments & Financial Services Ltd. Decreases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 43.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,084 shares of the company’s stock after selling 832 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in PACCAR were worth $106,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Aire Advisors LLC purchased a new position in PACCAR in the 4th quarter worth about $213,000. Capital Advisors Inc. OK purchased a new stake in shares of PACCAR during the 4th quarter valued at about $17,821,000. Louisiana State Employees Retirement System purchased a new stake in shares of PACCAR during the 4th quarter valued at about $7,148,000. Simplicity Solutions LLC increased its position in shares of PACCAR by 3.6% during the 4th quarter. Simplicity Solutions LLC now owns 8,527 shares of the company’s stock valued at $833,000 after purchasing an additional 295 shares during the last quarter. Finally, Graypoint LLC increased its position in shares of PACCAR by 33.1% during the 4th quarter. Graypoint LLC now owns 3,458 shares of the company’s stock valued at $338,000 after purchasing an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 0.1 %

NASDAQ PCAR opened at $118.02 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The company has a market capitalization of $61.84 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.79 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 stock has a 50 day moving average price of $115.22 and a 200-day moving average price of $100.23.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 EPS. As a group, equities analysts predict that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.92%. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCAR. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Evercore ISI increased their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. TD Cowen increased their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. The Goldman Sachs Group increased their target price on shares of PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, 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. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and an average price target of $109.75.

PACCAR 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.