Spire Wealth Management Boosts Holdings in PACCAR Inc (NASDAQ:PCAR)

Spire Wealth Management raised its holdings in PACCAR Inc (NASDAQ:PCAR) by 18.9% during the 4th quarter, Holdings Channel reports. The firm owned 68,479 shares of the company’s stock after purchasing an additional 10,869 shares during the quarter. Spire Wealth Management’s holdings in PACCAR were worth $6,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PCAR. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after purchasing an additional 23,865 shares during the last quarter. Northern Trust Corp increased its position in PACCAR by 6.0% during the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after buying an additional 316,001 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after acquiring an additional 89,984 shares during the last quarter. Invesco Ltd. raised its holdings in shares of PACCAR by 9.9% in the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock worth $309,921,000 after acquiring an additional 328,347 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of PACCAR by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,913,341 shares of the company’s stock worth $247,692,000 after acquiring an additional 15,599 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PCAR shares. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Truist Financial reissued a “hold” rating and issued a $121.00 price target (up from $117.00) on shares of PACCAR in a report on Thursday. Evercore ISI upped their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Royal Bank of Canada started coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.62.

Insider Transactions at PACCAR

In other news, 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 sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 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 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. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.3 %

PCAR stock traded up $0.36 during trading on Monday, reaching $105.15. 2,779,442 shares of the stock traded hands, compared to its average volume of 2,459,681. The business’s 50 day moving average price is $116.42 and its 200-day moving average price is $102.78. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The firm has a market capitalization of $55.10 billion, a PE ratio of 10.87, a P/E/G ratio of 1.63 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly 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 return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a $0.30 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. PACCAR’s dividend payout ratio is presently 12.45%.

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.