Patrick M Sweeney & Associates Inc. Purchases New Holdings in PACCAR Inc (NASDAQ:PCAR)

Patrick M Sweeney & Associates Inc. acquired a new position in PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,354 shares of the company’s stock, valued at approximately $328,000.

A number of other institutional investors have also recently bought and sold shares of PCAR. Raymond James & Associates boosted its holdings in shares of PACCAR by 29.1% in the 3rd quarter. Raymond James & Associates now owns 79,615 shares of the company’s stock worth $6,769,000 after buying an additional 17,953 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in PACCAR by 15.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 90,658 shares of the company’s stock worth $7,708,000 after acquiring an additional 12,451 shares during the period. Miracle Mile Advisors LLC boosted its stake in PACCAR by 19.0% in the third quarter. Miracle Mile Advisors LLC now owns 3,372 shares of the company’s stock valued at $287,000 after acquiring an additional 538 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of PACCAR by 33.8% during the 3rd quarter. Lindbrook Capital LLC now owns 1,951 shares of the company’s stock valued at $166,000 after acquiring an additional 493 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PACCAR by 7.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 201,930 shares of the company’s stock worth $17,168,000 after purchasing an additional 14,409 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several research reports. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $84.00 to $97.00 in a report on Friday, January 19th. TD Cowen upped their price objective on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. The Goldman Sachs Group lifted their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Evercore ISI upped their price target on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Seven 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Price Performance

Shares of PCAR traded up $0.45 during mid-day trading on Wednesday, reaching $107.05. 2,887,717 shares of the stock traded hands, compared to its average volume of 2,462,551. 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 Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The company has a market cap of $56.11 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The firm has a fifty day moving average price of $116.18 and a 200 day moving average price of $103.12.

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. As a group, equities research analysts predict that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. PACCAR’s dividend payout ratio (DPR) is 11.20%.

Insider Activity

In other news, CFO Harrie Schippers sold 32,797 shares of the firm’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 value of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 43,920 shares of company stock valued at $4,650,324. 2.02% of the stock is currently owned by insiders.

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.