Perkins Coie Trust Co Purchases 140 Shares of PACCAR Inc (NASDAQ:PCAR)

Perkins Coie Trust Co lifted its position in PACCAR Inc (NASDAQ:PCAR) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,106 shares of the company’s stock after purchasing an additional 140 shares during the quarter. Perkins Coie Trust Co’s holdings in PACCAR were worth $208,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in PACCAR by 1.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 559,630 shares of the company’s stock worth $54,648,000 after acquiring an additional 7,599 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of PACCAR by 87.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 454,638 shares of the company’s stock valued at $44,395,000 after buying an additional 212,007 shares during the last quarter. Ethic Inc. grew its stake in shares of PACCAR by 4.3% during the fourth quarter. Ethic Inc. now owns 105,107 shares of the company’s stock valued at $10,264,000 after buying an additional 4,374 shares during the last quarter. Power Corp of Canada bought a new position in shares of PACCAR during the fourth quarter valued at approximately $4,981,000. Finally, Point72 Asset Management L.P. bought a new position in shares of PACCAR during the fourth quarter valued at approximately $87,441,000. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

PACCAR Stock Up 0.7 %

PACCAR stock traded up $0.71 during mid-day trading on Wednesday, reaching $103.51. 135,144 shares of the company were exchanged, compared to its average volume of 2,605,017. The business has a fifty day moving average of $96.14 and a 200 day moving average of $104.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The firm has a market cap of $54.25 billion, a P/E ratio of 10.66, a PEG ratio of 1.52 and a beta of 0.91. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The company 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 firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. Research analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. PACCAR’s dividend payout ratio is currently 12.45%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on 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 directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.02% of the stock is owned by company 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.