Cerity Partners LLC Boosts Stock Position in PACCAR Inc. (NASDAQ:PCAR)

Cerity Partners LLC boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 39.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,883 shares of the company's stock after acquiring an additional 23,359 shares during the quarter. Cerity Partners LLC's holdings in PACCAR were worth $7,973,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after acquiring an additional 290 shares during the period. Proficio Capital Partners LLC bought a new position in PACCAR during the fourth quarter valued at approximately $215,000. EverSource Wealth Advisors LLC lifted its position in PACCAR by 14.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock valued at $88,000 after purchasing an additional 107 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of PACCAR by 8.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 14,748 shares of the company's stock valued at $1,534,000 after buying an additional 1,105 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of PACCAR by 2.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 65,585 shares of the company's stock valued at $6,822,000 after buying an additional 1,372 shares during the period. 64.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Pierre R. Breber acquired 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director directly owned 13,015 shares of the company's stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. Royal Bank Of Canada lowered their price objective on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of PACCAR from a "hold" rating to a "sell" rating in a research report on Sunday. JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a report on Wednesday, April 16th. Finally, Citigroup raised their price objective on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PACCAR has an average rating of "Hold" and a consensus price target of $104.59.

PACCAR Trading Down 1.4%

PCAR traded down $1.33 during trading hours on Thursday, reaching $94.07. 2,150,578 shares of the company's stock traded hands, compared to its average volume of 2,736,116. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $49.38 billion, a PE ratio of 14.24, a PEG ratio of 3.52 and a beta of 0.94. The firm has a 50-day moving average price of $94.60 and a 200 day moving average price of $98.72. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. During the same period last year, the company earned $2.27 earnings per share. The firm's revenue was down 16.0% compared to the same quarter last year. As a group, sell-side analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's payout ratio is 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.