Stifel Financial Corp Sells 7,718 Shares of PACCAR Inc (NASDAQ:PCAR)

Stifel Financial Corp decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,143 shares of the company's stock after selling 7,718 shares during the period. Stifel Financial Corp's holdings in PACCAR were worth $21,235,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PCAR. Everence Capital Management Inc. bought a new stake in PACCAR in the 4th quarter worth about $1,984,000. Cullen Frost Bankers Inc. grew its stake in shares of PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after acquiring an additional 6,494 shares during the period. LPL Financial LLC raised its holdings in shares of PACCAR by 6.1% during the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company's stock valued at $22,094,000 after purchasing an additional 12,143 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock valued at $4,061,000 after purchasing an additional 6,936 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in PACCAR by 19.3% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the company's stock worth $138,000 after purchasing an additional 214 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company's stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last three months. 2.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PCAR has been the topic of several research analyst reports. Citigroup lowered their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and lowered their target price for the company from $108.00 to $78.00 in a report on Monday, April 7th. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. Truist Financial lowered their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and boosted their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $108.59.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $91.89 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1 year low of $85.05 and a 1 year high of $118.81. The firm has a fifty day moving average price of $97.55 and a 200-day moving average price of $105.35. The stock has a market cap of $48.24 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results 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 return on equity of 23.53% and a net margin of 12.36%. Equities analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.44%. 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.

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