PACCAR Inc. (NASDAQ:PCAR) Shares Acquired by First American Trust FSB

First American Trust FSB grew its position in PACCAR Inc. (NASDAQ:PCAR) by 7.7% during the first quarter, Holdings Channel reports. The firm owned 34,451 shares of the company’s stock after acquiring an additional 2,470 shares during the period. First American Trust FSB’s holdings in PACCAR were worth $3,354,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after purchasing an additional 240 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of PACCAR in the first quarter valued at about $29,000. Sunbelt Securities Inc. increased its holdings in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after purchasing an additional 350 shares during the period. Bayforest Capital Ltd increased its holdings in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after purchasing an additional 274 shares during the period. Finally, Accent Capital Management LLC acquired a new position in shares of PACCAR in the first quarter valued at about $40,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Monday, July 28th. Citigroup raised their target price on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Royal Bank Of Canada dropped their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Finally, Truist Financial dropped their target price on PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a report on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.77.

PACCAR Stock Up 0.6%

PCAR opened at $97.34 on Friday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $95.72 and a 200 day moving average price of $97.49. The company has a market cap of $51.11 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 3.91 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 earnings per share. Sell-side analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR’s dividend payout ratio (DPR) is 22.60%.

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.