Raymond James Financial Inc. Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

Raymond James Financial Inc. acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 292,639 shares of the company’s stock, valued at approximately $30,440,000. Raymond James Financial Inc. owned about 0.06% of PACCAR as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Geode Capital Management LLC boosted its holdings in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after buying an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock worth $1,119,997,000 after acquiring an additional 572,231 shares in the last quarter. FMR LLC raised its holdings in shares of PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after acquiring an additional 167,165 shares during the period. Finally, Norges Bank purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $526,922,000. 64.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last quarter. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $88.17 on Friday. 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 company has a market cap of $46.28 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The stock has a 50-day moving average of $99.45 and a 200-day moving average of $105.82. PACCAR Inc has a 52-week low of $85.10 and a 52-week high of $118.81.

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

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent analyst reports. Melius Research set a $120.00 target price on shares of PACCAR in a research note on Tuesday, March 18th. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a research report on Wednesday. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $121.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.59.

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.