Royal Bank of Canada Buys 100,866 Shares of PACCAR Inc (NASDAQ:PCAR)

Royal Bank of Canada raised its stake in PACCAR Inc (NASDAQ:PCAR) by 6.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,786,785 shares of the company’s stock after acquiring an additional 100,866 shares during the quarter. Royal Bank of Canada’s holdings in PACCAR were worth $185,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Madrona Financial Services LLC increased its holdings in PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after acquiring an additional 91 shares during the period. PDS Planning Inc increased its holdings in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock worth $292,000 after acquiring an additional 101 shares during the period. Valley National Advisers Inc. increased its holdings in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after acquiring an additional 106 shares during the period. EverSource Wealth Advisors LLC increased its holdings in PACCAR by 14.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock worth $88,000 after acquiring an additional 107 shares during the period. Finally, Claris Advisors LLC MO increased its holdings in PACCAR by 1.5% during the 4th quarter. Claris Advisors LLC MO now owns 7,209 shares of the company’s stock worth $750,000 after acquiring an additional 108 shares during the period. 64.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PCAR shares. Citigroup decreased their target price on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a report on Wednesday, April 16th. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Finally, Royal Bank of Canada decreased their price target on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.23.

Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

PCAR stock opened at $96.71 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The firm’s fifty day moving average is $93.34 and its 200 day moving average is $103.86. The firm has a market cap of $50.77 billion, a P/E ratio of 12.23, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the business posted $2.27 EPS. PACCAR’s revenue for the quarter was down 16.0% on a year-over-year basis. Research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR’s dividend payout ratio is currently 20.00%.

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.