Cullen Frost Bankers Inc. Has $9.13 Million Stock Position in PACCAR Inc. (NASDAQ:PCAR)

Cullen Frost Bankers Inc. grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,736 shares of the company's stock after buying an additional 8,017 shares during the period. Cullen Frost Bankers Inc.'s holdings in PACCAR were worth $9,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stack Financial Management Inc acquired a new stake in shares of PACCAR during the first quarter worth about $20,585,000. Larson Financial Group LLC raised its position in shares of PACCAR by 74.1% during the first quarter. Larson Financial Group LLC now owns 954 shares of the company's stock worth $93,000 after purchasing an additional 406 shares during the period. Sage Mountain Advisors LLC raised its position in shares of PACCAR by 13.3% during the first quarter. Sage Mountain Advisors LLC now owns 2,808 shares of the company's stock worth $273,000 after purchasing an additional 330 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after purchasing an additional 987,805 shares during the period. Finally, Apollon Wealth Management LLC raised its position in shares of PACCAR by 13.5% during the first quarter. Apollon Wealth Management LLC now owns 18,782 shares of the company's stock worth $1,829,000 after purchasing an additional 2,234 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR traded down $1.34 during trading on Thursday, hitting $94.05. The stock had a trading volume of 5,561,648 shares, compared to its average volume of 2,744,607. The company has a 50 day moving average price of $94.60 and a 200-day moving average price of $98.72. The firm has a market cap of $49.37 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 3.52 and a beta of 0.94. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19.

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

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.40%. PACCAR's dividend payout ratio is presently 20.00%.

Insiders Place Their Bets

In related news, Director Pierre R. Breber acquired 5,000 shares of the company's stock in a transaction 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 acquisition, the director directly owned 13,015 shares of the company's stock, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PCAR. Citigroup raised their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and dropped their target price for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Wall Street Zen lowered PACCAR from a "hold" rating to a "sell" rating in a research report on Sunday. Evercore ISI dropped their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Finally, Royal Bank Of Canada dropped their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $104.59.

About PACCAR

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.