PACCAR Inc (NASDAQ:PCAR) Shares Sold by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 51.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,710 shares of the company’s stock after selling 1,803 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in PACCAR were worth $169,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PCAR. Vest Financial LLC boosted its position in shares of PACCAR by 31.7% during the third quarter. Vest Financial LLC now owns 272,721 shares of the company’s stock worth $26,912,000 after buying an additional 65,638 shares during the period. Sander Capital Advisors Inc. acquired a new position in PACCAR during the 3rd quarter worth about $50,000. Raymond James & Associates lifted its stake in PACCAR by 15.2% during the 3rd quarter. Raymond James & Associates now owns 195,504 shares of the company’s stock worth $19,292,000 after acquiring an additional 25,867 shares in the last quarter. Blue Trust Inc. boosted its holdings in PACCAR by 172.6% during the 3rd quarter. Blue Trust Inc. now owns 3,816 shares of the company’s stock valued at $393,000 after acquiring an additional 2,416 shares during the period. Finally, Net Worth Advisory Group acquired a new position in PACCAR in the 3rd quarter valued at about $1,531,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PCAR. Citigroup raised their price objective on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI dropped their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Raymond James began coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average price target of $114.00.

PACCAR Stock Up 2.4 %

PCAR stock opened at $110.09 on Monday. The stock has a market cap of $57.71 billion, a P/E ratio of 11.66, a PEG ratio of 1.68 and a beta of 0.91. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The company’s 50 day moving average is $98.19 and its two-hundred day moving average is $103.61.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the firm earned $2.33 earnings per share. PACCAR’s revenue was down 2.1% on a year-over-year basis. Research analysts expect that PACCAR Inc will post 8.06 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.09%. PACCAR’s dividend payout ratio (DPR) is presently 12.71%.

PACCAR Company 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.