Raymond James Financial Services Advisors Inc. Sells 6,166 Shares of PACCAR Inc (NASDAQ:PCAR)

Raymond James Financial Services Advisors Inc. reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,852 shares of the company’s stock after selling 6,166 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in PACCAR were worth $12,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PCAR. Raymond James & Associates increased its position in shares of PACCAR by 29.1% during the third quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock valued at $6,769,000 after purchasing an additional 17,953 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in shares of PACCAR by 1.1% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 251,619 shares of the company’s stock valued at $21,393,000 after purchasing an additional 2,700 shares during the period. Miracle Mile Advisors LLC increased its position in shares of PACCAR by 19.0% during the third quarter. Miracle Mile Advisors LLC now owns 3,372 shares of the company’s stock valued at $287,000 after purchasing an additional 538 shares during the period. Monument Capital Management bought a new stake in shares of PACCAR during the third quarter valued at approximately $2,845,000. Finally, Lindbrook Capital LLC grew its position in PACCAR by 33.8% in the third quarter. Lindbrook Capital LLC now owns 1,951 shares of the company’s stock valued at $166,000 after acquiring an additional 493 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value 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 disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PCAR. JPMorgan Chase & Co. lowered their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen boosted their price objective on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group boosted their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Royal Bank of Canada began coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective on the stock. Finally, UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Trading Down 1.6 %

Shares of PCAR traded down $1.67 during trading hours on Friday, hitting $104.79. 3,899,161 shares of the stock traded hands, compared to its average volume of 2,813,976. The company has a current ratio of 1.69, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The firm has a market capitalization of $54.91 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.66 and a beta of 0.96. The business has a fifty day moving average of $116.42 and a 200-day moving average of $102.53.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts expect that PACCAR Inc will post 8.24 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be paid a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.15%. PACCAR’s dividend payout ratio is presently 11.20%.

About PACCAR

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.