PACCAR Inc (NASDAQ:PCAR) Shares Purchased by WBI Investments Inc.

WBI Investments Inc. lifted its stake in PACCAR Inc (NASDAQ:PCARFree Report) by 67.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,735 shares of the company’s stock after acquiring an additional 16,404 shares during the quarter. WBI Investments Inc.’s holdings in PACCAR were worth $3,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PCAR. Larson Financial Group LLC boosted its holdings in PACCAR by 86.2% in the second quarter. Larson Financial Group LLC now owns 296 shares of the company’s stock worth $25,000 after purchasing an additional 137 shares in the last quarter. OFI Invest Asset Management bought a new stake in PACCAR in the third quarter worth $26,000. ST Germain D J Co. Inc. boosted its holdings in PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Arlington Trust Co LLC bought a new stake in PACCAR in the third quarter worth $30,000. Finally, Achmea Investment Management B.V. bought a new stake in PACCAR in the first quarter worth $33,000. 65.68% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

NASDAQ:PCAR opened at $106.01 on Monday. PACCAR Inc has a 12-month low of $67.48 and a 12-month high of $106.23. The company has a quick ratio of 1.20, a current ratio of 1.49 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $55.45 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The firm has a 50-day moving average price of $97.82 and a 200 day moving average price of $90.06.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the business posted $1.76 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that PACCAR Inc will post 7.96 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a Special dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 15th were issued a dividend of $3.20 per share. This is a positive change from PACCAR’s previous Special dividend of $0.89. The ex-dividend date was Thursday, December 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent research reports. UBS Group upped their price objective on shares of PACCAR from $90.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and upped their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft upgraded shares of PACCAR from a “hold” rating to a “buy” rating and upped their price target for the company from $94.00 to $115.00 in a report on Wednesday, October 25th. TD Cowen upped their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Finally, Citigroup upped their price target on shares of PACCAR from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Get Our Latest Stock Analysis on PACCAR

Insider Transactions at PACCAR

In other news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the sale, the chairman now owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the sale, the chairman now owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,699 shares of company stock valued at $12,143,407. Corporate insiders own 2.06% of the company’s stock.

PACCAR Company Profile

(Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

Further Reading

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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