Hobbs Group Advisors LLC Takes $438,000 Position in PACCAR Inc (NASDAQ:PCAR)

Hobbs Group Advisors LLC bought a new position in shares of PACCAR Inc (NASDAQ:PCARFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,485 shares of the company’s stock, valued at approximately $438,000.

Other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its stake in PACCAR by 6.0% during the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after acquiring an additional 316,001 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of PACCAR by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after purchasing an additional 89,984 shares in the last quarter. Norges Bank purchased a new stake in shares of PACCAR in the 4th quarter valued at about $448,288,000. Invesco Ltd. boosted its position in shares of PACCAR by 9.9% in the 3rd quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock valued at $309,921,000 after purchasing an additional 328,347 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in PACCAR by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after buying an additional 54,273 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, VP Michael K. Walton sold 9,123 shares of the business’s 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 sale, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock valued at $4,779,241 in the last ninety days. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective on the stock. Evercore ISI upped their target price on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. decreased their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.62.

View Our Latest Stock Report on PCAR

PACCAR Price Performance

Shares of NASDAQ PCAR traded down $0.56 during trading on Friday, hitting $106.54. 1,049,712 shares of the company were exchanged, compared to its average volume of 2,444,460. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR Inc has a 1 year low of $76.88 and a 1 year high of $125.50. The company has a market cap of $55.84 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.63 and a beta of 0.94. The firm’s fifty day moving average price is $110.17 and its 200 day moving average price is $106.67.

PACCAR (NASDAQ:PCARGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that PACCAR Inc will post 8.36 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were paid a $0.30 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

About PACCAR

(Free Report)

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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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