Sequoia Financial Advisors LLC Grows Holdings in PACCAR Inc. $PCAR

Sequoia Financial Advisors LLC boosted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 63.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,778 shares of the company’s stock after acquiring an additional 5,756 shares during the period. Sequoia Financial Advisors LLC’s holdings in PACCAR were worth $1,618,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PCAR. Vanguard Group Inc. increased its stake in shares of PACCAR by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of PACCAR by 20.3% during the 3rd quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after buying an additional 1,009,134 shares in the last quarter. Invesco Ltd. lifted its stake in shares of PACCAR by 3.5% during the 3rd quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock valued at $530,622,000 after buying an additional 184,502 shares in the last quarter. UBS Group AG boosted its holdings in PACCAR by 74.4% in the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after buying an additional 1,940,260 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in PACCAR by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,256,671 shares of the company’s stock worth $320,196,000 after buying an additional 22,941 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, CFO Brice J. Poplawski sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer directly owned 903 shares of the company’s stock, valued at $117,760.23. This represents a 70.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on PCAR. Truist Financial raised their price target on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings raised PACCAR from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Evercore set a $139.00 target price on PACCAR in a research report on Monday. Morgan Stanley set a $109.00 target price on PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Citigroup restated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $122.00.

PACCAR Stock Down 1.2%

PCAR opened at $112.96 on Tuesday. The company has a market capitalization of $59.45 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.02. The firm has a 50-day simple moving average of $119.75 and a two-hundred day simple moving average of $115.13. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 earnings per share. Analysts forecast that PACCAR Inc. will post 5.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 28.09%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.