PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 49.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,327 shares of the company’s stock after acquiring an additional 4,065 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in PACCAR were worth $1,216,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PCAR. Capital International Investors grew its position in shares of PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of PACCAR in the fourth quarter valued at approximately $87,441,000. Renaissance Technologies LLC purchased a new stake in shares of PACCAR in the second quarter valued at approximately $88,437,000. Dorsey & Whitney Trust CO LLC grew its position in shares of PACCAR by 3,636.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock valued at $67,696,000 after purchasing an additional 531,794 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of PACCAR by 24.3% in the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after purchasing an additional 504,346 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Up 2.1 %

PACCAR stock traded up $2.16 during midday trading on Friday, reaching $103.41. The company’s stock had a trading volume of 2,796,414 shares, compared to its average volume of 2,625,178. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The company has a market cap of $54.20 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.52 and a beta of 0.91. The business has a 50-day simple moving average of $95.93 and a 200-day simple moving average of $105.05.

PACCAR (NASDAQ:PCAR) last issued 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 firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. On average, research analysts expect that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is 12.45%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PCAR shares. Evercore ISI dropped their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Truist Financial lowered their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Citigroup lowered their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Raymond James started coverage on PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $112.73.

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.