ABC Arbitrage SA Makes New $1.48 Million Investment in PACCAR Inc (NASDAQ:PCAR)

ABC Arbitrage SA purchased a new position in PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,266 shares of the company’s stock, valued at approximately $1,484,000.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in PACCAR in the 4th quarter worth $37,000. Regents Gate Capital LLP purchased a new stake in shares of PACCAR during the 4th quarter valued at about $44,000. Sander Capital Advisors Inc. purchased a new stake in shares of PACCAR during the 3rd quarter valued at about $50,000. Ashton Thomas Securities LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at about $52,000. Finally, AdvisorNet Financial Inc raised its position in shares of PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,871 shares of company stock valued at $14,586,333. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR stock opened at $105.96 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. The company has a market capitalization of $55.55 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. The company’s 50-day simple moving average is $108.32 and its two-hundred day simple moving average is $104.79. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, equities analysts anticipate that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 15.17%.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial upped their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.95.

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.