PACCAR Inc. $PCAR Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 100,566 shares of the company’s stock after acquiring an additional 6,830 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in PACCAR were worth $9,560,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FORA Capital LLC acquired a new stake in shares of PACCAR during the first quarter worth about $597,000. Cambridge Investment Research Advisors Inc. increased its position in shares of PACCAR by 62.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock worth $3,533,000 after purchasing an additional 13,904 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of PACCAR by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock worth $1,262,000 after purchasing an additional 4,429 shares in the last quarter. Stack Financial Management Inc acquired a new stake in shares of PACCAR during the first quarter worth about $20,585,000. Finally, Assenagon Asset Management S.A. increased its position in shares of PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after purchasing an additional 88,551 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

Shares of PCAR opened at $99.80 on Thursday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The stock’s 50 day moving average is $98.48 and its two-hundred day moving average is $95.54. The firm has a market capitalization of $52.40 billion, a PE ratio of 19.53, a P/E/G ratio of 4.10 and a beta of 0.94. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.28%. The business had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same period in the prior year, the firm posted $1.85 EPS. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. Research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s payout ratio is currently 25.83%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group set a $103.00 target price on PACCAR and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley set a $90.00 price target on PACCAR in a report on Tuesday. Vertical Research raised PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of PACCAR in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.59.

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.