292,639 Shares in PACCAR Inc (NASDAQ:PCAR) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 292,639 shares of the company’s stock, valued at approximately $30,440,000.

A number of other institutional investors have also modified their holdings of PCAR. Everence Capital Management Inc. acquired a new position in PACCAR during the 4th quarter worth about $1,984,000. Cullen Frost Bankers Inc. lifted its position in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after purchasing an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of PACCAR by 24.3% during the third 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. Insight Wealth Strategies LLC boosted its stake in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value 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 approximately $6,805,717.80. This represents a 62.95 % 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 worth $18,261,908. 2.02% of the stock is owned by company insiders.

PACCAR Stock Up 0.8 %

Shares of NASDAQ:PCAR opened at $99.21 on Friday. The firm has a 50 day simple moving average of $107.17 and a 200-day simple moving average of $106.26. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $52.07 billion, a PE ratio of 12.54, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its 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 predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research reports. Citigroup reduced their target price 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. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

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.