Spire Wealth Management Has $6.59 Million Position in PACCAR Inc (NASDAQ:PCAR)

Spire Wealth Management grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,479 shares of the company’s stock after purchasing an additional 10,869 shares during the quarter. Spire Wealth Management’s holdings in PACCAR were worth $6,592,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its position in PACCAR by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after buying an additional 23,865 shares in the last quarter. Northern Trust Corp grew its position in PACCAR by 6.0% during the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after buying an additional 316,001 shares in the last quarter. Fisher Asset Management LLC grew its position in PACCAR by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after buying an additional 89,984 shares in the last quarter. Invesco Ltd. grew its position in PACCAR by 9.9% during the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock worth $309,921,000 after buying an additional 328,347 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in PACCAR by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,913,341 shares of the company’s stock worth $247,692,000 after purchasing an additional 15,599 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Up 0.3 %

Shares of PACCAR stock traded up $0.36 on Monday, hitting $105.15. 2,779,442 shares of the company’s stock traded hands, compared to its average volume of 2,459,681. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The company has a fifty day moving average of $116.42 and a two-hundred day moving average of $102.78. The company has a market capitalization of $55.10 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $2.25 EPS. As a group, sell-side analysts expect that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Tuesday, May 14th. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is currently 12.45%.

Analysts Set New Price Targets

A number of brokerages have commented on PCAR. The Goldman Sachs Group raised their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. TD Cowen raised their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Morgan Stanley assumed coverage on shares of PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price target for the company. Finally, Evercore ISI lifted their target price on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

PACCAR 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.