Raymond James & Associates Has $5.14 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Raymond James & Associates lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR – Get Rating) by 62.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,916 shares of the company’s stock after selling 85,665 shares during the period. Raymond James & Associates’ holdings in PACCAR were worth $5,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FORA Capital LLC lifted its holdings in shares of PACCAR by 27.9% during the fourth quarter. FORA Capital LLC now owns 19,546 shares of the company’s stock worth $1,934,000 after purchasing an additional 4,268 shares during the period. St. James Investment Advisors LLC boosted its holdings in PACCAR by 44.3% during the fourth quarter. St. James Investment Advisors LLC now owns 505 shares of the company’s stock worth $51,000 after purchasing an additional 155 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in PACCAR in the fourth quarter valued at about $85,000. Orion Portfolio Solutions LLC boosted its stake in PACCAR by 16.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 6,098 shares of the company’s stock valued at $604,000 after acquiring an additional 839 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in PACCAR by 48.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 235,098 shares of the company’s stock valued at $23,268,000 after acquiring an additional 76,888 shares during the last quarter. Institutional investors own 63.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PCAR. StockNews.com began coverage on shares of PACCAR in a report on Thursday, May 18th. They issued a “buy” rating on the stock. OTR Global downgraded shares of PACCAR to a “positive” rating in a report on Wednesday, April 12th. Raymond James lifted their price target on shares of PACCAR from $58.00 to $60.00 and gave the company a “strong-buy” rating in a report on Friday, February 17th. Bank of America boosted their price target on shares of PACCAR from $61.33 to $72.00 in a research report on Sunday, January 29th. Finally, Argus lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.36.

PACCAR Stock Performance

Shares of PACCAR stock opened at $71.39 on Tuesday. PACCAR Inc has a one year low of $51.33 and a one year high of $76.71. The company has a market cap of $37.31 billion, a PE ratio of 11.87, a P/E/G ratio of 0.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The business has a 50-day simple moving average of $71.85 and a 200-day simple moving average of $59.44.

PACCAR (NASDAQ:PCAR – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.43. PACCAR had a return on equity of 27.38% and a net margin of 10.20%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.79 billion. During the same period in the prior year, the company posted $1.15 earnings per share. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities research analysts forecast that PACCAR Inc will post 7.83 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 7th. Shareholders of record on Wednesday, May 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, May 16th. PACCAR’s dividend payout ratio is currently 16.63%.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,442 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $74.85, for a total transaction of $182,783.70. Following the completion of the sale, the vice president now owns 3,230 shares in the company, valued at $241,765.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Michael T. Barkley sold 25,072 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $75.50, for a total transaction of $1,892,936.00. Following the completion of the sale, the vice president now owns 51,565 shares in the company, valued at $3,893,157.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,442 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $74.85, for a total value of $182,783.70. Following the sale, the vice president now owns 3,230 shares of the company’s stock, valued at approximately $241,765.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,529 shares of company stock worth $7,062,964. 2.06% of the stock is owned by insiders.

PACCAR Profile

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PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.