PACCAR Inc (NASDAQ:PCAR) Position Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.6% in the third quarter, Holdings Channel.com reports. The firm owned 79,485 shares of the company’s stock after purchasing an additional 1,249 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PACCAR were worth $7,844,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Security National Bank grew its stake in shares of PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after buying an additional 93 shares in the last quarter. Brookstone Capital Management lifted its stake in PACCAR by 4.1% in the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after acquiring an additional 94 shares during the last quarter. CVA Family Office LLC grew its position in PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after acquiring an additional 97 shares in the last quarter. Grove Bank & Trust increased its stake in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC raised its holdings in shares of PACCAR by 3.6% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 3,145 shares of the company’s stock valued at $324,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PCAR. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup increased their price objective on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Finally, Morgan Stanley reduced their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $116.55.

PACCAR Price Performance

NASDAQ:PCAR opened at $115.06 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a fifty day moving average price of $103.20 and a 200 day moving average price of $102.75. The stock has a market cap of $60.33 billion, a P/E ratio of 12.86, a PEG ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is presently 13.41%.

About PACCAR

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.