PACCAR Inc (NASDAQ:PCAR) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its stake in PACCAR Inc (NASDAQ:PCAR) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 37,040 shares of the company’s stock after purchasing an additional 511 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in PACCAR were worth $3,853,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PCAR. Wellington Management Group LLP grew its position in shares of 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 period. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. Fisher Asset Management LLC grew its position 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 during the period. JPMorgan Chase & Co. grew its position in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of PACCAR by 1.8% in 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 purchasing an additional 61,457 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PCAR. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI lowered their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $99.21 on Friday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The business has a 50-day moving average of $107.17 and a 200-day moving average of $106.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company has a market capitalization of $52.07 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $3.00 dividend. 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 is presently 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.