Steel Grove Capital Advisors LLC Has $2.13 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Steel Grove Capital Advisors LLC decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,803 shares of the company’s stock after selling 2,246 shares during the period. Steel Grove Capital Advisors LLC’s holdings in PACCAR were worth $2,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCAR. OFI Invest Asset Management acquired a new position in shares of PACCAR during the third quarter valued at about $26,000. ST Germain D J Co. Inc. increased its stake in PACCAR by 61.9% in the third 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 bought a new stake in PACCAR in the third quarter valued at about $30,000. Bruce G. Allen Investments LLC bought a new stake in PACCAR in the fourth quarter valued at about $37,000. Finally, Achmea Investment Management B.V. bought a new stake in PACCAR in the first quarter valued at about $33,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 1.2 %

Shares of PCAR stock traded up $1.45 during trading hours on Wednesday, hitting $124.46. 1,363,826 shares of the company were exchanged, compared to its average volume of 2,323,762. The business has a 50 day moving average of $109.34 and a two-hundred day moving average of $96.67. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52 week low of $67.48 and a 52 week high of $124.89. The company has a market capitalization of $65.22 billion, a PE ratio of 14.19, a PEG ratio of 1.92 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 earnings per share. Analysts anticipate that PACCAR Inc will post 8.13 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

Analyst Ratings Changes

Several brokerages have weighed in on PCAR. Morgan Stanley began coverage on shares of PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective on the stock. Royal Bank of Canada assumed coverage on shares of PACCAR in a report on Tuesday. They issued a “sector perform” rating and a $123.00 price objective 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 price objective on the stock. The Goldman Sachs Group increased their price objective on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.39.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at approximately $584,739.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,496 shares of company stock valued at $15,834,812. Corporate insiders own 2.02% of the company’s stock.

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.