New York Life Investment Management LLC Has $7.31 Million Position in PACCAR Inc (NASDAQ:PCAR)

New York Life Investment Management LLC boosted its position in PACCAR Inc (NASDAQ:PCAR) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,284 shares of the company’s stock after purchasing an additional 558 shares during the period. New York Life Investment Management LLC’s holdings in PACCAR were worth $7,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Everence Capital Management Inc. acquired a new position in PACCAR in the 4th quarter worth about $1,984,000. Sanctuary Advisors LLC increased its holdings in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. increased its holdings in PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PCAR shares. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Up 1.6 %

Shares of PACCAR stock opened at $107.24 on Friday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock’s 50-day moving average is $107.24 and its 200 day moving average is $105.64. The firm has a market cap of $56.28 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 16.69%.

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.