Hancock Whitney Corp Buys Shares of 5,821 PACCAR Inc (NASDAQ:PCAR)

Hancock Whitney Corp purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,821 shares of the company’s stock, valued at approximately $599,000.

Other hedge funds have also recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new position in shares of PACCAR during the 1st quarter worth approximately $27,000. New Covenant Trust Company N.A. purchased a new position in PACCAR in the first quarter worth $27,000. Riverview Trust Co acquired a new stake in PACCAR in the first quarter valued at $29,000. Rise Advisors LLC purchased a new stake in shares of PACCAR during the 1st quarter worth $31,000. Finally, Meeder Asset Management Inc. grew its stake in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on PCAR. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI dropped their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Citigroup decreased their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Truist Financial dropped their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.73.

PACCAR Stock Performance

NASDAQ:PCAR opened at $98.79 on Tuesday. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The firm has a 50 day simple moving average of $96.84 and a 200-day simple moving average of $105.97. The firm has a market cap of $51.79 billion, a PE ratio of 10.25, a P/E/G ratio of 1.48 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.33 EPS. On average, equities analysts expect that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

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.