Cullen Frost Bankers Inc. Sells 14,815 Shares of PACCAR Inc. $PCAR

Cullen Frost Bankers Inc. reduced its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 14.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 89,588 shares of the company’s stock after selling 14,815 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in PACCAR were worth $9,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. Brighton Jones LLC raised its position in PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares in the last quarter. Focus Partners Wealth raised its position in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina raised its position in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after purchasing an additional 5,327 shares in the last quarter. Ieq Capital LLC raised its position in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after purchasing an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in PACCAR during the 2nd quarter valued at $81,000. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PCAR shares. Citigroup reaffirmed a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Morgan Stanley set a $109.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings raised PACCAR from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $122.00.

PACCAR Trading Up 2.1%

PCAR opened at $111.64 on Thursday. The firm has a market cap of $58.75 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.02 and a beta of 1.02. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The stock has a fifty day moving average price of $118.14 and a 200-day moving average price of $115.72.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. As a group, equities research analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is presently 29.79%.

About PACCAR

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.