Argent Trust Co Has $457,000 Stock Position in PACCAR Inc (NASDAQ:PCAR)

Argent Trust Co reduced its holdings in PACCAR Inc (NASDAQ:PCAR) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,440 shares of the company’s stock after selling 269 shares during the period. Argent Trust Co’s holdings in PACCAR were worth $457,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Miracle Mile Advisors LLC lifted its position in PACCAR by 3.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock worth $307,000 after buying an additional 91 shares in the last quarter. Security National Bank raised its holdings in shares of PACCAR by 4.2% during the second quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after acquiring an additional 93 shares in the last quarter. Brookstone Capital Management boosted its position in PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after purchasing an additional 94 shares during the last quarter. Morningstar Investment Management LLC grew its stake in PACCAR by 1.3% in the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after purchasing an additional 97 shares in the last quarter. Finally, Graypoint LLC increased its position in PACCAR by 2.9% in the 1st quarter. Graypoint LLC now owns 3,557 shares of the company’s stock worth $441,000 after purchasing an additional 99 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Up 3.3 %

PCAR opened at $99.52 on Friday. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company has a market capitalization of $52.17 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.47 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. The firm’s fifty day moving average price is $97.04 and its two-hundred day moving average price is $106.30.

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). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the previous year, the firm earned $2.33 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. On average, analysts anticipate that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Announces Dividend

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

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 in the company, valued at approximately $16,066,583.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial dropped their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Citigroup reduced their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Evercore ISI lowered their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. reduced their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $112.73.

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.