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

Raymond James Financial Services Advisors Inc. decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 5.8% during the 1st quarter, Holdings Channel reports. The firm owned 100,852 shares of the company’s stock after selling 6,166 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in PACCAR were worth $12,495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Miracle Mile Advisors LLC boosted its holdings in PACCAR by 3.8% in the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock worth $307,000 after acquiring an additional 91 shares in the last quarter. Morningstar Investment Management LLC raised its stake in shares of PACCAR by 1.3% in the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after purchasing an additional 97 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of PACCAR by 3.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after purchasing an additional 100 shares during the last quarter. Evanson Asset Management LLC raised its stake in shares of PACCAR by 3.5% in the first quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock worth $400,000 after purchasing an additional 108 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC raised its stake in shares of PACCAR by 0.5% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s 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 transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s 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 transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the company’s 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 transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PACCAR stock traded down $1.67 during midday trading on Friday, hitting $104.79. 3,899,161 shares of the company’s stock were exchanged, compared to its average volume of 2,813,976. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The stock has a 50-day moving average price of $116.42 and a two-hundred day moving average price of $102.53. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 1.69. The company has a market cap of $54.91 billion, a P/E ratio of 10.87, a PEG ratio of 1.66 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping 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 business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the business earned $2.25 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that PACCAR Inc will post 8.24 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, May 14th. PACCAR’s dividend payout ratio is presently 11.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $104.00 to $136.00 in a research report on Friday, March 15th. TD Cowen upped their price target on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Royal Bank of Canada initiated coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target on the stock. Truist Financial reiterated a “hold” rating and issued a $121.00 price objective (up from $117.00) on shares of PACCAR in a research note on Thursday. Finally, The Goldman Sachs Group increased their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Seven investment 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $112.62.

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.