Spire Wealth Management Acquires 10,869 Shares of PACCAR Inc (NASDAQ:PCAR)

Spire Wealth Management raised its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,479 shares of the company's stock after acquiring an additional 10,869 shares during the quarter. Spire Wealth Management's holdings in PACCAR were worth $6,592,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in PACCAR by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company's stock worth $730,116,000 after purchasing an additional 23,865 shares in the last quarter. Northern Trust Corp raised its stake in PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company's stock worth $471,079,000 after purchasing an additional 316,001 shares in the last quarter. Fisher Asset Management LLC raised its stake in PACCAR by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company's stock worth $480,104,000 after purchasing an additional 89,984 shares in the last quarter. Invesco Ltd. raised its stake in PACCAR by 9.9% in the 3rd quarter. Invesco Ltd. now owns 3,645,267 shares of the company's stock worth $309,921,000 after purchasing an additional 328,347 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in PACCAR by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,913,341 shares of the company's stock worth $247,692,000 after purchasing an additional 15,599 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Up 0.3 %

PCAR traded up $0.36 during trading on Monday, reaching $105.15. 2,779,592 shares of the company's stock were exchanged, compared to its average volume of 2,459,681. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $55.10 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The firm has a fifty day moving average price of $116.28 and a two-hundred day moving average price of $102.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period in the previous year, the firm posted $2.25 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. This is a positive change from PACCAR's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. PACCAR's payout ratio is presently 12.45%.

Insider Activity

In other news, CFO Harrie Schippers sold 32,797 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares of the company's stock, valued at approximately $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Michael K. Walton sold 9,123 shares of the company's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company's stock, valued at approximately $154,301.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,920 shares of company stock valued at $4,650,324. 2.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. TD Cowen boosted their target price on shares of PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. Bank of America upgraded shares of PACCAR from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Finally, Evercore ISI boosted their target price on shares of PACCAR from $94.00 to $101.00 and gave the company an "in-line" rating in a research report on Tuesday, February 20th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $112.62.

PACCAR 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.