C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.85 Million in PACCAR Inc (NASDAQ:PCAR)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, Holdings Channel.com reports. The fund bought 17,795 shares of the company’s stock, valued at approximately $1,851,000.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in PACCAR during the fourth quarter worth approximately $37,000. Regents Gate Capital LLP acquired a new stake in PACCAR during the 4th quarter worth approximately $44,000. Grove Bank & Trust lifted its holdings in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Sander Capital Advisors Inc. bought a new stake in PACCAR in the 3rd quarter valued at $50,000. Finally, Ashton Thomas Securities LLC acquired a new position in PACCAR in the 3rd quarter valued at $52,000. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of research reports. Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price of $121.95.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $103.11 on Thursday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a market capitalization of $54.06 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. The company’s 50 day simple moving average is $109.08 and its 200 day simple moving average is $104.75.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, research analysts predict that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is presently 15.17%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 5,463 shares of the company’s stock, 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. Over the last 90 days, insiders sold 130,871 shares of company stock valued at $14,586,333. 2.02% of the stock is currently owned by insiders.

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.