Oppenheimer Asset Management Inc. Buys 3,573 Shares of PACCAR Inc (NASDAQ:PCAR)

Oppenheimer Asset Management Inc. grew its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,058 shares of the company's stock after buying an additional 3,573 shares during the period. Oppenheimer Asset Management Inc.'s holdings in PACCAR were worth $8,640,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PCAR. Madrona Financial Services LLC grew its stake in PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock valued at $837,000 after buying an additional 91 shares in the last quarter. Global Financial Private Client LLC boosted its holdings in shares of PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock worth $1,011,000 after acquiring an additional 97 shares during the period. Omnia Family Wealth LLC grew its position in shares of PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock valued at $394,000 after purchasing an additional 98 shares in the last quarter. Insight Wealth Partners LLC raised its stake in shares of PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company's stock valued at $760,000 after purchasing an additional 104 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Activity

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company's stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Evercore ISI decreased their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and upped their price target for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price objective on PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, PACCAR currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.77.

PACCAR Price Performance

PCAR traded down $2.22 during midday trading on Monday, hitting $105.02. The stock had a trading volume of 2,467,532 shares, compared to its average volume of 2,378,765. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The business has a fifty day moving average of $107.24 and a 200 day moving average of $105.81. The company has a market cap of $55.11 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is currently 16.69%.

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.