LPL Financial LLC Boosts Stock Position in PACCAR Inc (NASDAQ:PCAR)

LPL Financial LLC lifted its position in PACCAR Inc (NASDAQ:PCAR) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 212,405 shares of the company’s stock after purchasing an additional 12,143 shares during the quarter. LPL Financial LLC’s holdings in PACCAR were worth $22,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Everence Capital Management Inc. purchased a new position in PACCAR during the 4th quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. raised its holdings 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 during the last quarter. Sanctuary Advisors LLC lifted its position in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares during the period. Insight Wealth Strategies LLC boosted its holdings in 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 last quarter. Finally, Versant Capital Management Inc grew its position in PACCAR by 19.3% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last ninety days. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PCAR shares. Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Finally, Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $96.91 on Monday. The stock has a market capitalization of $50.87 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $124.39. The firm has a 50-day simple moving average of $105.19 and a 200-day simple moving average of $106.72.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

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