Banco Santander S.A. Takes $277,000 Position in PACCAR Inc (NASDAQ:PCAR)

Banco Santander S.A. bought a new position in PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,661 shares of the company’s stock, valued at approximately $277,000.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in PACCAR during the fourth quarter worth approximately $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the 4th quarter worth $37,000. Regents Gate Capital LLP purchased a new position in shares of PACCAR in the 4th quarter worth $44,000. Ashton Thomas Securities LLC acquired a new position in PACCAR in the third quarter valued at $52,000. Finally, AdvisorNet Financial Inc grew its position in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after acquiring an additional 391 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Up 0.5 %

NASDAQ:PCAR opened at $110.56 on Tuesday. The stock has a 50-day simple moving average of $107.41 and a 200 day simple moving average of $106.26. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market capitalization of $58.02 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last issued 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%. Sell-side analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced 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 a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is 16.69%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PCAR shares. JPMorgan Chase & Co. raised their price objective on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group lowered 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

Insider Transactions at PACCAR

In other PACCAR news, 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 transaction, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by insiders.

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.