Crescent Sterling Ltd. Acquires Shares of 4,200 PACCAR Inc (NASDAQ:PCAR)

Crescent Sterling Ltd. acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,200 shares of the company’s stock, valued at approximately $520,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. DAVENPORT & Co LLC purchased a new stake in PACCAR during the 3rd quarter valued at approximately $245,000. Ballentine Partners LLC raised its stake in PACCAR by 15.1% during the 3rd quarter. Ballentine Partners LLC now owns 4,940 shares of the company’s stock valued at $420,000 after acquiring an additional 648 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of PACCAR by 10.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 4,712 shares of the company’s stock worth $401,000 after buying an additional 439 shares in the last quarter. ST Germain D J Co. Inc. raised its stake in shares of PACCAR by 61.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after buying an additional 130 shares in the last quarter. Finally, Mcdaniel Terry & Co. raised its stake in shares of PACCAR by 0.5% during the 3rd quarter. Mcdaniel Terry & Co. now owns 387,560 shares of the company’s stock worth $32,950,000 after buying an additional 1,890 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Down 6.6 %

Shares of PCAR stock traded down $7.53 during mid-day trading on Tuesday, hitting $106.11. 7,370,121 shares of the company’s stock were exchanged, compared to its average volume of 2,411,904. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The stock has a 50-day simple moving average of $116.67 and a two-hundred day simple moving average of $102.33. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The stock has a market cap of $55.60 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.68 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter last year, the firm earned $2.25 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Equities analysts expect that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a $0.30 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PACCAR’s dividend payout ratio (DPR) is 12.31%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCAR. The Goldman Sachs Group increased their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Evercore ISI increased their target price on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. TD Cowen upped their price target on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Morgan Stanley assumed coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $113.08.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,946 shares of company stock valued at $7,003,148. 2.02% of the stock is currently owned by company insiders.

PACCAR Company 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.