HighTower Advisors LLC Sells 10,885 Shares of PACCAR Inc (NASDAQ:PCAR)

HighTower Advisors LLC trimmed its holdings in PACCAR Inc (NASDAQ:PCAR) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 221,513 shares of the company’s stock after selling 10,885 shares during the quarter. HighTower Advisors LLC’s holdings in PACCAR were worth $23,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Inspire Advisors LLC raised its stake in shares of PACCAR by 12.7% in the fourth quarter. Inspire Advisors LLC now owns 6,219 shares of the company’s stock worth $647,000 after acquiring an additional 703 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of PACCAR by 11.7% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,180 shares of the company’s stock valued at $435,000 after purchasing an additional 439 shares in the last quarter. Sage Mountain Advisors LLC bought a new position in PACCAR in the 4th quarter worth approximately $258,000. Net Worth Advisory Group lifted its holdings in PACCAR by 2.5% during the 4th quarter. Net Worth Advisory Group now owns 15,904 shares of the company’s stock worth $1,654,000 after buying an additional 386 shares in the last quarter. Finally, Claris Advisors LLC MO boosted its position in PACCAR by 1.5% in the 4th quarter. Claris Advisors LLC MO now owns 7,209 shares of the company’s stock valued at $750,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PCAR shares. Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial upped their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last ninety days. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Up 0.8 %

NASDAQ:PCAR opened at $99.21 on Friday. The firm has a market capitalization of $52.07 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The stock’s 50 day moving average price is $107.17 and its two-hundred day moving average price is $106.26.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is currently 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.