Laird Norton Wetherby Trust Company LLC Has $2.34 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Laird Norton Wetherby Trust Company LLC decreased its position in PACCAR Inc (NASDAQ:PCAR) by 17.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,817 shares of the company’s stock after selling 4,560 shares during the period. Laird Norton Wetherby Trust Company LLC’s holdings in PACCAR were worth $2,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the fourth quarter valued at about $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the fourth quarter valued at about $37,000. Atala Financial Inc acquired a new position in shares of PACCAR during the fourth quarter valued at about $43,000. Finally, Regents Gate Capital LLP acquired a new position in shares of PACCAR during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Evercore ISI dropped their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Royal Bank of Canada lowered their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered PACCAR from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $105.23.

PACCAR Trading Down 1.0%

NASDAQ PCAR opened at $90.61 on Monday. The firm has a market capitalization of $47.57 billion, a P/E ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96. The business has a fifty day simple moving average of $94.45 and a 200 day simple moving average of $104.20. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.27 EPS. On average, analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.46%. PACCAR’s dividend payout ratio (DPR) is 20.00%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. The trade was a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.02% of the company’s stock.

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.