Summit Trail Advisors LLC Boosts Position in PACCAR Inc (NASDAQ:PCAR)

Summit Trail Advisors LLC increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,078 shares of the company’s stock after acquiring an additional 133 shares during the quarter. Summit Trail Advisors LLC’s holdings in PACCAR were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in PCAR. AdvisorNet Financial Inc boosted its stake in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. OFI Invest Asset Management bought a new stake in PACCAR during the 3rd quarter valued at approximately $26,000. ORG Partners LLC grew its holdings in shares of PACCAR by 6,200.0% during the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after acquiring an additional 372 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of PACCAR in the 4th quarter worth approximately $37,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of PACCAR in the 4th quarter valued at approximately $39,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related 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 sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Insiders have sold a total of 43,920 shares of company stock worth $4,650,324 over the last quarter. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PCAR. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Evercore ISI increased their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. The Goldman Sachs Group raised their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, TD Cowen lifted their target price 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. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Stock Down 0.5 %

PACCAR stock opened at $106.04 on Wednesday. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The stock has a fifty day simple moving average of $116.18 and a two-hundred day simple moving average of $103.12. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The firm has a market cap of $55.58 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.63 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating 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 company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period last year, the firm posted $2.25 earnings per share. PACCAR’s revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR’s payout ratio is currently 11.20%.

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.