Sowell Financial Services LLC Buys 347 Shares of PACCAR Inc (NASDAQ:PCAR)

Sowell Financial Services LLC increased its stake in shares of PACCAR Inc (NASDAQ:PCARFree Report) by 1.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,974 shares of the company’s stock after buying an additional 347 shares during the period. Sowell Financial Services LLC’s holdings in PACCAR were worth $1,698,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PCAR. Vanguard Group Inc. boosted its position in PACCAR by 2.0% during the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after purchasing an additional 698,784 shares during the period. State Street Corp boosted its position in PACCAR by 49.0% during the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock worth $1,562,477,000 after purchasing an additional 7,020,923 shares during the period. Geode Capital Management LLC boosted its position in PACCAR by 3.1% during the second quarter. Geode Capital Management LLC now owns 12,106,664 shares of the company’s stock worth $1,011,209,000 after purchasing an additional 364,109 shares during the period. Massachusetts Financial Services Co. MA boosted its position in PACCAR by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock worth $730,116,000 after purchasing an additional 23,865 shares during the period. Finally, Alliancebernstein L.P. boosted its position in PACCAR by 10.7% during the second quarter. Alliancebernstein L.P. now owns 5,414,169 shares of the company’s stock worth $452,895,000 after purchasing an additional 523,460 shares during the period. Hedge funds and other institutional investors own 65.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PCAR. TD Cowen raised their price objective on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. UBS Group raised their price objective on shares of PACCAR from $90.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. The Goldman Sachs Group raised their price objective on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft upgraded shares of PACCAR from a “hold” rating to a “buy” rating and raised their price objective for the company from $94.00 to $115.00 in a research report on Wednesday, October 25th. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.32.

Get Our Latest Analysis on PCAR

PACCAR Stock Up 1.0 %

PCAR opened at $104.16 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.20 and a debt-to-equity ratio of 0.49. The company has a market cap of $54.48 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.65 and a beta of 0.90. PACCAR Inc has a 12 month low of $67.48 and a 12 month high of $104.37. The business’s 50-day moving average price is $96.75 and its 200-day moving average price is $89.54.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 EPS. On average, equities analysts expect that PACCAR Inc will post 7.96 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a None dividend, which will be paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th will be given a $3.20 dividend. This is a positive change from PACCAR’s previous None dividend of $0.89. The ex-dividend date of this dividend is Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

Insiders Place Their Bets

In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,699 shares of company stock valued at $12,143,407. 2.06% of the stock is owned by insiders.

About PACCAR

(Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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