Blue Trust Inc. Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

Blue Trust Inc. lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 172.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,816 shares of the company’s stock after buying an additional 2,416 shares during the period. Blue Trust Inc.’s holdings in PACCAR were worth $393,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR during the 1st quarter worth approximately $27,000. Riverview Trust Co purchased a new position in shares of PACCAR during the 1st quarter worth approximately $29,000. Quarry LP purchased a new position in shares of PACCAR during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. raised 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 buying an additional 205 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in PACCAR in the 2nd quarter valued at approximately $36,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCAR. Morgan Stanley dropped their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Truist Financial raised their price objective on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus target price of $114.18.

PACCAR Price Performance

PCAR stock opened at $103.80 on Thursday. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The stock’s fifty day simple moving average is $98.98 and its 200-day simple moving average is $103.41. 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 stock has a market capitalization of $54.41 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter last year, the firm earned $2.34 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. Equities research analysts expect that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is currently 12.71%.

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.