Cerity Partners LLC Has $5.41 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Cerity Partners LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 52.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,360 shares of the company’s stock after selling 60,976 shares during the quarter. Cerity Partners LLC’s holdings in PACCAR were worth $5,410,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PCAR. OFI Invest Asset Management acquired a new stake in shares of PACCAR during the 3rd quarter valued at $26,000. AdvisorNet Financial Inc boosted its holdings in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. ST Germain D J Co. Inc. raised its position in PACCAR by 61.9% during the 3rd 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 during the last quarter. Arlington Trust Co LLC bought a new position in PACCAR during the 3rd quarter worth $30,000. Finally, Achmea Investment Management B.V. bought a new position in PACCAR during the 1st quarter worth $33,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, SVP Kevin D. Baney sold 7,203 shares of PACCAR stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $103.03, for a total transaction of $742,125.09. Following the completion of the transaction, the senior vice president now owns 6,621 shares in the company, valued at approximately $682,161.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of PACCAR stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,589,751.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin D. Baney sold 7,203 shares of PACCAR stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the transaction, the senior vice president now owns 6,621 shares of the company’s stock, valued at approximately $682,161.63. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock worth $15,834,812 in the last three months. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the subject of several analyst reports. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Morgan Stanley initiated coverage on PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price for the company. JPMorgan Chase & Co. raised their target price on PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI raised their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Eight 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Stock Performance

Shares of PCAR opened at $117.54 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. The stock has a 50-day moving average of $115.48 and a 200-day moving average of $100.46. The company has a market cap of $61.59 billion, a PE ratio of 13.40, a P/E/G ratio of 1.79 and a beta of 0.92. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.76 EPS. On average, equities research analysts predict that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.92%. PACCAR’s dividend payout ratio is presently 12.31%.

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.