Watershed Asset Management L.L.C. Acquires Shares of 3,024 PACCAR Inc (NASDAQ:PCAR)

Watershed Asset Management L.L.C. acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,024 shares of the company’s stock, valued at approximately $295,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd boosted its holdings in shares of PACCAR by 7.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,120 shares of the company’s stock worth $660,000 after acquiring an additional 483 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of PACCAR in the 4th quarter worth approximately $364,000. Linden Thomas Advisory Services LLC acquired a new position in shares of PACCAR in the 4th quarter worth approximately $258,000. Parkside Financial Bank & Trust boosted its holdings in shares of PACCAR by 54.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,722 shares of the company’s stock worth $168,000 after acquiring an additional 607 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of PACCAR by 6.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 145,728 shares of the company’s stock worth $14,230,000 after acquiring an additional 8,320 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCAR has been the topic of several recent analyst reports. Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Truist Financial assumed coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. The Goldman Sachs Group boosted their price objective on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average price target of $110.82.

PACCAR Trading Up 0.7 %

Shares of PACCAR stock traded up $0.74 on Tuesday, hitting $113.32. 2,399,673 shares of the company’s stock traded hands, compared to its average volume of 2,307,863. The firm’s 50-day moving average price is $116.26 and its two-hundred day moving average price is $101.43. The stock has a market capitalization of $59.38 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.67 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 has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Announces Dividend

The company 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio is currently 12.31%.

Insider Activity at PACCAR

In related news, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on 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 directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was 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 $493,675,224.61. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock worth $15,834,812 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

About PACCAR

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.