Meeder Asset Management Inc. Has $29,000 Position in PACCAR Inc (NASDAQ:PCAR)

Meeder Asset Management Inc. lifted its holdings in PACCAR Inc (NASDAQ:PCAR) by 221.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 280 shares of the company’s stock after buying an additional 193 shares during the quarter. Meeder Asset Management Inc.’s holdings in PACCAR were worth $29,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PCAR. Golden State Wealth Management LLC acquired a new position in PACCAR during the 4th quarter worth approximately $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management acquired a new position in PACCAR during the fourth quarter worth $43,000. Atala Financial Inc bought a new position in PACCAR in the fourth quarter valued at $43,000. Finally, Regents Gate Capital LLP acquired a new stake in PACCAR in the 4th quarter valued at $44,000. 64.90% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last three months. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $99.09 on Thursday. 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 business has a 50-day simple moving average of $104.48 and a two-hundred day simple moving average of $106.71. The company has a market capitalization of $52.02 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $123.20.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.33%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PCAR. Citigroup reduced their price target on PACCAR from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial increased their price objective on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Melius Research set a $120.00 price target on shares of PACCAR in a research note on Tuesday, March 18th. Finally, Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus target price of $117.54.

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.