Cetera Investment Advisers Has $4.58 Million Position in PACCAR Inc. (NASDAQ:PCAR)

Cetera Investment Advisers grew its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,027 shares of the company's stock after purchasing an additional 2,952 shares during the period. Cetera Investment Advisers' holdings in PACCAR were worth $4,579,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PCAR. Brighton Jones LLC raised its holdings 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 buying an additional 290 shares during the last quarter. Huntington National Bank raised its holdings in PACCAR by 126.8% in the 4th quarter. Huntington National Bank now owns 2,386 shares of the company's stock worth $248,000 after purchasing an additional 1,334 shares in the last quarter. World Investment Advisors raised its holdings in PACCAR by 5.8% in the 4th quarter. World Investment Advisors now owns 4,490 shares of the company's stock worth $467,000 after purchasing an additional 246 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in PACCAR in the 4th quarter worth $15,958,000. Finally, Aviva PLC raised its holdings in PACCAR by 65.7% in the 4th quarter. Aviva PLC now owns 315,286 shares of the company's stock worth $32,796,000 after purchasing an additional 124,996 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

Insider Activity

In related news, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was 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 directly owned 468 shares in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent research reports. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Truist Financial cut their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research report on Monday, July 28th. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and increased their price objective for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Finally, Citigroup increased their price objective on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $107.77.

PACCAR Stock Performance

PACCAR stock traded up $1.86 during mid-day trading on Tuesday, hitting $98.20. 3,275,950 shares of the company's stock traded hands, compared to its average volume of 3,626,571. The firm has a 50 day moving average price of $95.47 and a 200 day moving average price of $97.76. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The company has a market cap of $51.56 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 3.84 and a beta of 0.91. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the company posted $2.13 EPS. PACCAR's revenue for the quarter was down 15.7% on a year-over-year basis. On average, equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is currently 22.60%.

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.