Patrick M Sweeney & Associates Inc. Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Patrick M Sweeney & Associates Inc. purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,354 shares of the company’s stock, valued at approximately $328,000.

Several other large investors have also made changes to their positions in PCAR. Raymond James & Associates raised its holdings in shares of PACCAR by 29.1% during the 3rd 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 in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of PACCAR by 15.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 90,658 shares of the company’s stock valued at $7,708,000 after acquiring an additional 12,451 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in PACCAR by 19.0% during the third quarter. Miracle Mile Advisors LLC now owns 3,372 shares of the company’s stock worth $287,000 after purchasing an additional 538 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of PACCAR by 33.8% during the 3rd quarter. Lindbrook Capital LLC now owns 1,951 shares of the company’s stock worth $166,000 after buying an additional 493 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PACCAR by 7.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 201,930 shares of the company’s stock worth $17,168,000 after acquiring an additional 14,409 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In related news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Insiders have sold a total of 43,920 shares of company stock valued at $4,650,324 in the last 90 days. 2.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI raised their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. TD Cowen raised their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.62.

PACCAR Trading Up 0.4 %

Shares of PCAR traded up $0.45 during trading hours on Wednesday, hitting $107.05. 2,887,717 shares of the stock traded hands, compared to its average volume of 2,462,551. The business has a fifty day moving average of $116.18 and a 200-day moving average of $103.12. The firm has a market capitalization of $56.11 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the prior year, the company posted $2.25 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that PACCAR Inc will post 8.26 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is currently 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.