Cullen Frost Bankers Inc. Purchases 15,508 Shares of PACCAR Inc (NASDAQ:PCAR)

Cullen Frost Bankers Inc. raised its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,455 shares of the company's stock after acquiring an additional 15,508 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in PACCAR were worth $5,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Patrick M Sweeney & Associates Inc. acquired a new position in shares of PACCAR during the 4th quarter worth approximately $328,000. Charles Schwab Investment Management Inc. increased its holdings in shares of PACCAR by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company's stock valued at $289,788,000 after purchasing an additional 54,273 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of PACCAR by 13.9% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,580 shares of the company's stock valued at $935,000 after purchasing an additional 1,170 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of PACCAR by 30.7% during the 4th quarter. Apollon Wealth Management LLC now owns 16,037 shares of the company's stock worth $1,566,000 after buying an additional 3,763 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of PACCAR by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 39,899 shares of the company's stock worth $3,896,000 after buying an additional 747 shares during the period. Institutional investors own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research analyst reports. The Goldman Sachs Group increased their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a "neutral" rating in a report on Tuesday, April 16th. TD Cowen boosted their price target on PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research note on Wednesday, January 24th. Truist Financial reiterated a "hold" rating and set a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their target price on PACCAR from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Wednesday, May 1st. Finally, Royal Bank of Canada initiated coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and an average price target of $112.62.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 33,850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company's stock, valued at $16,397,377.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares of the company's stock, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company's stock, valued at $16,397,377.40. The disclosure for this sale can be found here. Insiders have sold 77,770 shares of company stock valued at $8,244,517 over the last ninety days. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded up $1.87 during midday trading on Thursday, hitting $108.92. The stock had a trading volume of 1,887,258 shares, compared to its average volume of 2,456,158. The company's 50-day moving average price is $116.10 and its 200-day moving average price is $103.15. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $57.09 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96.

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

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a dividend of $0.30 per share. This is an increase from PACCAR's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, May 14th. PACCAR's dividend payout ratio is currently 11.20%.

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.