Level Four Advisory Services LLC Sells 1,227 Shares of PACCAR Inc (NASDAQ:PCAR)

Level Four Advisory Services LLC cut its stake in PACCAR Inc (NASDAQ:PCAR) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,727 shares of the company’s stock after selling 1,227 shares during the quarter. Level Four Advisory Services LLC’s holdings in PACCAR were worth $1,012,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PCAR. Wellington Management Group LLP grew its stake in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Norges Bank purchased a new position in shares of PACCAR in the 4th quarter worth approximately $526,922,000. JPMorgan Chase & Co. raised its stake in shares of PACCAR by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 3,941,495 shares of the company’s stock worth $409,994,000 after acquiring an additional 426,311 shares in the last quarter. Bank of New York Mellon Corp lifted its position in PACCAR by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock valued at $364,690,000 after acquiring an additional 61,457 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after acquiring an additional 178,813 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Darrin C. Siver sold 103,671 shares of the 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 sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PCAR shares. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI decreased their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Citigroup cut their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Melius Research set a $120.00 target price on shares of PACCAR in a research note on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have issued 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 a consensus price target of $118.38.

PACCAR Stock Performance

NASDAQ PCAR opened at $96.91 on Friday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $124.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a market capitalization of $50.87 billion, a P/E ratio of 12.25, a PEG ratio of 2.77 and a beta of 0.91. The stock has a 50-day simple moving average of $105.19 and a two-hundred day simple moving average of $106.64.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. On average, equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is currently 16.69%.

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.