Everett Harris & Co. CA Sells 329 Shares of PACCAR Inc (NASDAQ:PCAR)

Everett Harris & Co. CA trimmed its position in PACCAR Inc (NASDAQ:PCAR) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,820 shares of the company’s stock after selling 329 shares during the period. Everett Harris & Co. CA’s holdings in PACCAR were worth $1,252,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PCAR. Prudential PLC bought a new position in PACCAR during the 1st quarter worth $763,000. Vanguard Group Inc. raised its position in PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after purchasing an additional 698,784 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in PACCAR by 66.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock worth $6,046,000 after purchasing an additional 27,300 shares during the last quarter. Covestor Ltd raised its position in PACCAR by 73.6% during the 1st quarter. Covestor Ltd now owns 2,118 shares of the company’s stock worth $187,000 after purchasing an additional 898 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in PACCAR by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock worth $9,399,000 after purchasing an additional 792 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PCAR. 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. Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday. They set a “sector perform” rating and a $123.00 target price for the company. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. TD Cowen lifted their price objective on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley initiated coverage on PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective for the company. Eight 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 a consensus rating of “Moderate Buy” and an average price target of $109.39.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred 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 $607,814.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR 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 transaction, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last three months. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Down 0.5 %

PCAR stock traded down $0.57 during mid-day trading on Thursday, reaching $123.89. 2,280,819 shares of the company traded hands, compared to its average volume of 2,323,058. The stock has a market cap of $64.92 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.92 and a beta of 0.91. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR Inc has a fifty-two week low of $67.48 and a fifty-two week high of $125.50. The firm’s 50 day moving average price is $109.94 and its 200 day moving average price is $96.87.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the previous year, the business earned $1.76 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that PACCAR Inc will post 8.13 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.87%. PACCAR’s dividend payout ratio (DPR) is presently 12.31%.

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.