CHICAGO TRUST Co NA Sells 5,641 Shares of PACCAR Inc. $PCAR

CHICAGO TRUST Co NA cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 70.8% in the 1st quarter, HoldingsChannel reports. The firm owned 2,326 shares of the company’s stock after selling 5,641 shares during the quarter. CHICAGO TRUST Co NA’s holdings in PACCAR were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in PCAR. Norges Bank purchased a new stake in PACCAR during the fourth quarter worth about $727,745,000. Wellington Management Group LLP boosted its stake in PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after acquiring an additional 3,597,283 shares during the last quarter. UBS Group AG grew its position in shares of PACCAR by 74.4% during the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after acquiring an additional 1,940,260 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of PACCAR by 129.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock valued at $249,237,000 after acquiring an additional 1,286,056 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of PACCAR by 17,292.6% during the 4th quarter. Focus Partners Wealth now owns 1,202,700 shares of the company’s stock worth $131,725,000 after purchasing an additional 1,195,785 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. BNP Paribas Exane started coverage on PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup restated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, Truist Financial upped their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average price target of $122.45.

PACCAR Stock Performance

NASDAQ PCAR opened at $119.50 on Friday. The firm has a market cap of $62.89 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $116.46 and its 200-day moving average is $118.71. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the firm earned $1.46 EPS. PACCAR’s revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were given a dividend of $0.35 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.