Sequoia Financial Advisors LLC Sells 122,707 Shares of PACCAR Inc (NASDAQ:PCAR)

Sequoia Financial Advisors LLC cut its holdings in shares of PACCAR Inc (NASDAQ:PCARFree Report) by 95.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,189 shares of the company’s stock after selling 122,707 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in PACCAR were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PCAR. Larson Financial Group LLC lifted its holdings in PACCAR by 86.2% during the second quarter. Larson Financial Group LLC now owns 296 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. OFI Invest Asset Management purchased a new stake in PACCAR during the third quarter valued at about $26,000. Marquette Asset Management LLC bought a new stake in shares of PACCAR during the second quarter valued at about $29,000. ST Germain D J Co. Inc. increased its position in shares of PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after buying an additional 130 shares during the period. Finally, Arlington Trust Co LLC bought a new stake in shares of PACCAR during the third quarter valued at about $30,000. 65.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PCAR. Deutsche Bank Aktiengesellschaft upgraded shares of PACCAR from a “hold” rating to a “buy” rating and upped their price objective for the stock from $94.00 to $115.00 in a research report on Wednesday, October 25th. TD Cowen increased their price target 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. The Goldman Sachs Group boosted their price objective on shares of PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Morgan Stanley assumed coverage on shares of PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price for the company. Finally, Citigroup boosted their price target on PACCAR from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Get Our Latest Research Report on PCAR

PACCAR Stock Up 0.4 %

PCAR stock opened at $106.01 on Friday. PACCAR Inc has a fifty-two week low of $67.48 and a fifty-two week high of $106.23. The company has a market capitalization of $55.45 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. The business’s 50 day moving average price is $97.82 and its two-hundred day moving average price is $90.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.20 and a current ratio of 1.49.

PACCAR (NASDAQ:PCARGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 earnings per share. As a group, analysts forecast that PACCAR Inc will post 7.96 earnings per share for the current fiscal year.

PACCAR Increases Dividend

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

Insider Buying and Selling at PACCAR

In other news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. 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. Corporate insiders own 2.06% of the company’s stock.

About PACCAR

(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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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