Avantax Advisory Services Inc. Purchases 1,105 Shares of PACCAR Inc (NASDAQ:PCAR)

Avantax Advisory Services Inc. increased its stake in PACCAR Inc (NASDAQ:PCAR) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,748 shares of the company’s stock after acquiring an additional 1,105 shares during the period. Avantax Advisory Services Inc.’s holdings in PACCAR were worth $1,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares in the last quarter. Fisher Asset Management LLC grew its position in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. grew its position in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after acquiring an additional 1,164,692 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in PACCAR by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock worth $364,690,000 after acquiring an additional 61,457 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $100.21 on Wednesday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a market cap of $52.59 billion, a P/E ratio of 12.67, a PEG ratio of 2.77 and a beta of 0.91. The firm has a 50-day moving average of $106.86 and a 200 day moving average of $106.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PCAR. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Citigroup cut their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and cut their price target for the company from $124.00 to $108.00 in a research report on Tuesday. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $118.23.

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.