Raymond James & Associates Boosts Holdings in PACCAR Inc (NASDAQ:PCAR)

Raymond James & Associates increased its stake in PACCAR Inc (NASDAQ:PCAR) by 15.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,504 shares of the company’s stock after buying an additional 25,867 shares during the period. Raymond James & Associates’ holdings in PACCAR were worth $19,292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of PACCAR by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after acquiring an additional 171,317 shares in the last quarter. Legal & General Group Plc raised its holdings in PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after purchasing an additional 242,435 shares in the last quarter. Capital International Investors raised its holdings in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. lifted its position in PACCAR by 1.5% during the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after buying an additional 48,784 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of PACCAR by 24.3% during the 1st quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after buying an additional 504,346 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

PCAR opened at $105.90 on Friday. The company’s 50-day simple moving average is $99.18 and its two-hundred day simple moving average is $103.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 1.91. The stock has a market capitalization of $55.51 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.62 and a beta of 0.91. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts predict that PACCAR Inc will post 8.07 EPS for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 12.45%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup lifted their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus target price of $114.18.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.02% of the stock is owned by company insiders.

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.