Blue Trust Inc. Cuts Stake in PACCAR Inc (NASDAQ:PCAR)

Blue Trust Inc. reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 68.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,202 shares of the company’s stock after selling 2,614 shares during the quarter. Blue Trust Inc.’s holdings in PACCAR were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in PACCAR during the fourth quarter valued at $37,000. Regents Gate Capital LLP purchased a new position in shares of PACCAR during the fourth quarter valued at about $44,000. Ashton Thomas Securities LLC purchased a new position in shares of PACCAR during the third quarter valued at about $52,000. AdvisorNet Financial Inc grew its position in shares of PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after purchasing an additional 391 shares in the last quarter. Finally, Sander Capital Advisors Inc. grew its holdings in PACCAR by 22.4% during the 4th quarter. Sander Capital Advisors Inc. now owns 618 shares of the company’s stock valued at $64,000 after buying an additional 113 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 1.9 %

Shares of NASDAQ:PCAR opened at $104.46 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business has a 50 day simple moving average of $107.50 and a two-hundred day simple moving average of $105.16. The firm has a market capitalization of $54.77 billion, a PE ratio of 13.21, 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.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is currently 16.69%.

Analysts Set New Price Targets

PCAR has been the subject of several research analyst reports. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Citigroup cut their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price target on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

Insider Activity

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at $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 ninety days, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

PACCAR 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.