Avantax Advisory Services Inc. Purchases Shares of 12,939 PACCAR Inc (NASDAQ:PCAR)

Avantax Advisory Services Inc. bought a new stake in PACCAR Inc (NASDAQ:PCARFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,939 shares of the company’s stock, valued at approximately $1,100,000.

A number of other institutional investors also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its position in shares of PACCAR by 4.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 58,286 shares of the company’s stock valued at $4,955,000 after purchasing an additional 2,576 shares in the last quarter. Kingsview Wealth Management LLC raised its position in shares of PACCAR by 29.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 3,123 shares of the company’s stock valued at $266,000 after purchasing an additional 708 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at approximately $5,095,000. Merit Financial Group LLC raised its position in shares of PACCAR by 13.9% in the 3rd quarter. Merit Financial Group LLC now owns 4,812 shares of the company’s stock valued at $409,000 after purchasing an additional 589 shares in the last quarter. Finally, Insight Advisors LLC PA raised its position in shares of PACCAR by 3.2% in the 3rd quarter. Insight Advisors LLC PA now owns 10,389 shares of the company’s stock valued at $883,000 after purchasing an additional 322 shares in the last quarter. 65.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,320 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the completion of the transaction, the chief executive officer now owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 27,320 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,699 shares of company stock valued at $12,143,407. 2.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upped their price target on PACCAR from $107.00 to $113.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Citigroup upped their price target on PACCAR from $90.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Morgan Stanley assumed coverage on PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised PACCAR from a “hold” rating to a “buy” rating and upped their price target for the company from $94.00 to $115.00 in a research report on Wednesday, October 25th. Six research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.32.

View Our Latest Analysis on PACCAR

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $105.61 on Friday. PACCAR Inc has a 1-year low of $67.48 and a 1-year high of $106.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.49 and a quick ratio of 1.20. The business’s fifty day moving average price is $97.57 and its two-hundred day moving average price is $89.88. The firm has a market capitalization of $55.24 billion, a PE ratio of 12.04, a P/E/G ratio of 1.68 and a beta of 0.90.

PACCAR (NASDAQ:PCARGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts expect that PACCAR Inc will post 7.96 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a Special dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 15th were paid a $3.20 dividend. This is a boost from PACCAR’s previous Special dividend of $0.89. The ex-dividend date of this dividend was Thursday, December 14th. PACCAR’s dividend payout ratio is presently 12.31%.

PACCAR Profile

(Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

Further Reading

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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