Snowden Capital Advisors LLC Has $1.37 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Snowden Capital Advisors LLC cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 7.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,753 shares of the company’s stock after selling 966 shares during the quarter. Snowden Capital Advisors LLC’s holdings in PACCAR were worth $1,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. grew its position in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after purchasing an additional 6,494 shares during the period. LPL Financial LLC grew its position in shares of PACCAR by 6.1% in the 4th 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 period. Tokio Marine Asset Management Co. Ltd. grew its position in shares of PACCAR by 508.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 89,865 shares of the company’s stock valued at $9,348,000 after purchasing an additional 75,090 shares during the period. American Century Companies Inc. grew its position in shares of PACCAR by 15.8% in the 4th quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock valued at $65,675,000 after purchasing an additional 86,215 shares during the period. Finally, GHP Investment Advisors Inc. boosted its position in PACCAR by 7.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 61,741 shares of the company’s stock worth $6,422,000 after acquiring an additional 4,390 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.8%

Shares of PACCAR stock opened at $96.71 on Monday. PACCAR Inc has a 12-month low of $84.65 and a 12-month high of $118.81. The stock has a market cap of $50.77 billion, a P/E ratio of 12.23, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $93.34 and its 200-day moving average is $103.86.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the prior year, the company earned $2.27 EPS. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. Equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Wednesday, May 14th. PACCAR’s dividend payout ratio is currently 20.00%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent research reports. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Royal Bank of Canada reduced their price target on PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Finally, Truist Financial reduced their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $105.23.

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.