PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its stake in PACCAR Inc (NASDAQ:PCAR) by 35.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,455 shares of the company’s stock after purchasing an additional 15,508 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in PACCAR were worth $5,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCAR. AdvisorNet Financial Inc lifted its position in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of PACCAR in the third quarter valued at $26,000. ORG Partners LLC grew its holdings in PACCAR by 6,200.0% during the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after purchasing an additional 372 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in PACCAR during the 4th quarter worth $37,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in PACCAR during the 4th quarter worth $39,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the business’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 sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Insiders sold 43,920 shares of company stock valued at $4,650,324 in the last ninety days. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCAR. Truist Financial restated a “hold” rating and set a $121.00 target price (up from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. Evercore ISI upped their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. The Goldman Sachs Group upped their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Royal Bank of Canada started coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.62.

PACCAR Stock Up 0.4 %

Shares of PACCAR stock opened at $107.05 on Thursday. The stock has a market capitalization of $56.11 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.63 and a beta of 0.96. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50. 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 business’s 50 day simple moving average is $116.18 and its 200-day simple moving average is $103.12.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share 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 firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the company earned $2.25 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a $0.30 dividend. 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 yield of 1.12%. PACCAR’s dividend payout ratio (DPR) is currently 11.20%.

PACCAR Profile

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.