Raymond James Financial Inc. Buys New Stake in PACCAR Inc (NASDAQ:PCAR)

Raymond James Financial Inc. purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 292,639 shares of the company’s stock, valued at approximately $30,440,000. Raymond James Financial Inc. owned 0.06% of PACCAR as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC purchased a new position in PACCAR during the fourth quarter worth approximately $37,000. Regents Gate Capital LLP acquired a new stake in PACCAR in the fourth quarter valued at approximately $44,000. AdvisorNet Financial Inc increased its position in shares of PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after buying an additional 391 shares in the last quarter. Finally, Sander Capital Advisors Inc. raised its stake in shares of PACCAR by 22.4% during the 4th quarter. Sander Capital Advisors Inc. now owns 618 shares of the company’s stock worth $64,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PCAR. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI reduced their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.77.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last ninety days. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

NASDAQ:PCAR opened at $99.21 on Friday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The stock has a market cap of $52.07 billion, a PE ratio of 12.54, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a 50 day moving average price of $107.17 and a 200 day moving average price of $106.26.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 16.69%.

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.