PACCAR Inc. $PCAR Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in PACCAR Inc. (NASDAQ:PCAR) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,604,005 shares of the company’s stock after selling 19,065 shares during the period. US Bancorp DE owned approximately 0.69% of PACCAR worth $342,599,000 at the end of the most recent reporting period.

Other institutional investors 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 approximately $29,000. 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. Accent Capital Management LLC acquired a new position in shares of PACCAR in the first quarter valued at approximately $40,000. Finally, JFS Wealth Advisors LLC increased its holdings in shares of PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock valued at $43,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent analyst reports. Citigroup upped their price objective on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, July 28th. Vertical Research raised PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. upped their price objective on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $107.59.

PACCAR Stock Down 1.0%

PACCAR stock opened at $95.73 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The firm has a market capitalization of $50.27 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 3.94 and a beta of 0.94. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The stock’s fifty day moving average is $98.87 and its two-hundred day moving average is $95.62.

PACCAR (NASDAQ:PCAR) last posted 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 company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.PACCAR’s revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.13 earnings per share. Analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th 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 Wednesday, November 12th. PACCAR’s dividend payout ratio is currently 22.60%.

About PACCAR

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.