Cullen Frost Bankers Inc. Raises Holdings in PACCAR Inc. $PCAR

Cullen Frost Bankers Inc. increased its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 7.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 100,566 shares of the company's stock after acquiring an additional 6,830 shares during the period. Cullen Frost Bankers Inc.'s holdings in PACCAR were worth $9,560,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its position in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after acquiring an additional 100 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of PACCAR during the first quarter worth $29,000. Bayforest Capital Ltd boosted its position in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after buying an additional 274 shares during the period. Accent Capital Management LLC purchased a new position in shares of PACCAR during the first quarter worth $40,000. Finally, JFS Wealth Advisors LLC boosted its position in shares of PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after buying an additional 174 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

PACCAR Stock Down 0.1%

Shares of NASDAQ PCAR opened at $99.80 on Thursday. The stock has a market cap of $52.40 billion, a P/E ratio of 19.53, a PEG ratio of 4.10 and a beta of 0.94. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The business's fifty day simple moving average is $98.48 and its 200-day simple moving average is $95.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.28%. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. The firm's quarterly revenue was down 20.7% on a year-over-year basis. As a group, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's dividend payout ratio (DPR) is currently 25.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group set a $103.00 price target on PACCAR and gave the stock a "neutral" rating in a research report on Wednesday. Truist Financial raised their price target on PACCAR from $97.00 to $108.00 and gave the stock a "hold" rating in a research report on Wednesday. Zacks Research lowered PACCAR from a "hold" rating to a "strong sell" rating in a research report on Friday, October 10th. JPMorgan Chase & Co. raised their price target on PACCAR from $103.00 to $108.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $106.59.

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.

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