Cetera Investment Advisers Boosts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Cetera Investment Advisers boosted its position in PACCAR Inc (NASDAQ:PCAR) by 20.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 44,075 shares of the company’s stock after purchasing an additional 7,420 shares during the period. Cetera Investment Advisers’ holdings in PACCAR were worth $4,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. raised its holdings in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC bought a new stake in PACCAR during the 4th quarter valued at $37,000. Kestra Investment Management LLC bought a new stake in PACCAR during the 4th quarter valued at $37,000. OFI Invest Asset Management bought a new stake in PACCAR during the 4th quarter valued at $43,000. Finally, Atala Financial Inc bought a new stake in PACCAR during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, Director Pierre R. Breber bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of PACCAR from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Royal Bank of Canada lowered their target price on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Morgan Stanley cut shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price on the stock. in a report on Wednesday, April 16th. Truist Financial lowered their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group cut shares of PACCAR from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $108.00 to $78.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average price target of $105.23.

PACCAR Trading Down 1.7%

PACCAR stock opened at $94.65 on Thursday. The stock has a market cap of $49.69 billion, a P/E ratio of 11.97, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm’s fifty day moving average price is $93.79 and its 200-day moving average price is $104.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter last year, the firm posted $2.27 earnings per share. The firm’s revenue was down 16.0% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.39%. PACCAR’s dividend payout ratio (DPR) is presently 20.00%.

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.