SeaBridge Investment Advisors LLC Increases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

SeaBridge Investment Advisors LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 3.8% in the first quarter, Holdings Channel.com reports. The firm owned 41,275 shares of the company’s stock after buying an additional 1,501 shares during the period. PACCAR comprises about 1.3% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 17th biggest position. SeaBridge Investment Advisors LLC’s holdings in PACCAR were worth $5,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PSI Advisors LLC purchased a new position in shares of PACCAR in the 1st quarter worth approximately $25,000. YHB Investment Advisors Inc. purchased a new position in PACCAR during the 1st quarter valued at $27,000. Riverview Trust Co purchased a new position in PACCAR during the 1st quarter valued at $29,000. Rise Advisors LLC purchased a new position in PACCAR during the 1st quarter valued at $31,000. Finally, AdvisorNet Financial Inc boosted its holdings in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PCAR. StockNews.com cut PACCAR from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. JPMorgan Chase & Co. lowered their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, Raymond James initiated coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.92.

PACCAR Trading Down 1.7 %

NASDAQ:PCAR traded down $1.78 on Friday, reaching $100.22. The company’s stock had a trading volume of 2,214,356 shares, compared to its average volume of 2,531,051. PACCAR Inc has a 12-month low of $80.91 and a 12-month high of $125.50. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The firm has a market cap of $52.53 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. The stock has a 50 day moving average price of $106.69 and a 200 day moving average price of $107.76.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that PACCAR Inc will post 8.34 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.20%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s payout ratio is presently 12.45%.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was 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 document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is currently owned by corporate insiders.

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.