PACCAR Inc (NASDAQ:PCAR) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in PACCAR Inc (NASDAQ:PCAR) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,967,614 shares of the company’s stock after acquiring an additional 54,273 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.57% of PACCAR worth $289,788,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in PACCAR by 13.9% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,580 shares of the company’s stock worth $935,000 after purchasing an additional 1,170 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of PACCAR by 30.7% in the fourth quarter. Apollon Wealth Management LLC now owns 16,037 shares of the company’s stock valued at $1,566,000 after acquiring an additional 3,763 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of PACCAR by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 39,899 shares of the company’s stock valued at $3,896,000 after acquiring an additional 747 shares during the period. Private Advisor Group LLC raised its holdings in PACCAR by 17.7% during the fourth quarter. Private Advisor Group LLC now owns 21,433 shares of the company’s stock worth $2,093,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its position in PACCAR by 4.5% in the fourth quarter. Summit Trail Advisors LLC now owns 3,078 shares of the company’s stock worth $309,000 after purchasing an additional 133 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Activity

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,920 shares of company stock worth $4,650,324. 2.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective on the stock. Evercore ISI lifted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and upped their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. Finally, The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Seven investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

PACCAR Stock Up 0.4 %

PACCAR stock opened at $107.05 on Thursday. The firm’s 50 day moving average price is $116.18 and its two-hundred day moving average price is $103.12. The firm has a market cap of $56.11 billion, a PE ratio of 11.10, a P/E/G ratio of 1.63 and a beta of 0.96. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.25 EPS. On average, research analysts predict that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. PACCAR’s dividend payout ratio is 11.20%.

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.