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

LPL Financial LLC increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 6.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 212,405 shares of the company’s stock after acquiring an additional 12,143 shares during the period. LPL Financial LLC’s holdings in PACCAR were worth $22,094,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the 4th quarter valued at approximately $37,000. OFI Invest Asset Management acquired a new position in shares of PACCAR in the fourth quarter worth $43,000. Atala Financial Inc acquired a new stake in shares of PACCAR in the fourth quarter valued at $43,000. Finally, Regents Gate Capital LLP purchased a new position in PACCAR in the fourth quarter valued at $44,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Down 1.3 %

Shares of NASDAQ:PCAR opened at $96.91 on Monday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $124.39. 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 stock has a market cap of $50.87 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. The firm has a fifty day moving average price of $105.19 and a 200 day moving average price of $106.72.

PACCAR (NASDAQ:PCAR) last announced 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%. Sell-side analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is 16.69%.

Insider Buying and Selling

In other news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last three months. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent research reports. Citigroup decreased their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.38.

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.