Stifel Financial Corp Sells 228 Shares of PACCAR Inc (NASDAQ:PCAR)
Stifel Financial Corp reduced its position in PACCAR Inc (NASDAQ:PCAR) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,855 shares of the company’s stock after selling 228 shares during the quarter. Stifel Financial Corp’s holdings in PACCAR were worth $4,406,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado lifted its holdings in PACCAR by 1.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 64,524 shares of the company’s stock valued at $3,944,000 after acquiring an additional 1,224 shares during the period. AE Wealth Management LLC grew its stake in shares of PACCAR by 8.5% in the 1st quarter. AE Wealth Management LLC now owns 18,147 shares of the company’s stock valued at $1,109,000 after purchasing an additional 1,414 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of PACCAR by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,139 shares of the company’s stock valued at $1,476,000 after buying an additional 1,425 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of PACCAR by 10.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,635 shares of the company’s stock valued at $467,000 after buying an additional 736 shares during the period. Finally, Cetera Advisor Networks LLC lifted its holdings in shares of PACCAR by 2.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 14,362 shares of the company’s stock valued at $878,000 after buying an additional 350 shares during the period. Institutional investors own 61.69% of the company’s stock.
In other news, SVP C Michael Dozier sold 12,158 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $85.40, for a total value of $1,038,293.20. Following the sale, the senior vice president now directly owns 9,923 shares of the company’s stock, valued at $847,424.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alma Lily Ley sold 3,314 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $84.65, for a total value of $280,530.10. Following the completion of the sale, the vice president now directly owns 499 shares in the company, valued at $42,240.35. The disclosure for this sale can be found here. Insiders have sold a total of 26,888 shares of company stock valued at $2,300,018 in the last quarter. Insiders own 2.18% of the company’s stock.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 21st. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.12. PACCAR had a return on equity of 16.85% and a net margin of 7.95%. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The business’s revenue was down 56.9% compared to the same quarter last year. On average, equities research analysts predict that PACCAR Inc will post 3.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.49%. PACCAR’s dividend payout ratio (DPR) is presently 18.63%.
PCAR has been the subject of several research reports. Deutsche Bank lifted their price objective on PACCAR from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. BidaskClub cut PACCAR from a “hold” rating to a “sell” rating in a report on Thursday, August 27th. Raymond James lifted their price objective on PACCAR from $95.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 3rd. Wells Fargo & Company lifted their price objective on PACCAR from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Finally, Credit Suisse Group boosted their price target on PACCAR from $72.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $85.57.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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