Riverview Trust Co Purchases Shares of 231 PACCAR Inc (NASDAQ:PCAR)

Riverview Trust Co acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 231 shares of the company’s stock, valued at approximately $29,000.

Other institutional investors have also made changes to their positions in the company. LPL Financial LLC lifted its stake in PACCAR by 18.5% during the third quarter. LPL Financial LLC now owns 208,113 shares of the company’s stock worth $17,694,000 after purchasing an additional 32,563 shares during the period. Mariner LLC lifted its position in shares of PACCAR by 13.6% during the 3rd quarter. Mariner LLC now owns 57,398 shares of the company’s stock worth $4,880,000 after buying an additional 6,851 shares during the period. Stifel Financial Corp boosted its stake in PACCAR by 3.6% in the 3rd quarter. Stifel Financial Corp now owns 164,114 shares of the company’s stock valued at $13,953,000 after buying an additional 5,638 shares in the last quarter. Federated Hermes Inc. grew its position in PACCAR by 51.6% in the third quarter. Federated Hermes Inc. now owns 3,833 shares of the company’s stock valued at $326,000 after acquiring an additional 1,305 shares during the period. Finally, Natixis Advisors L.P. raised its stake in PACCAR by 84.9% during the third quarter. Natixis Advisors L.P. now owns 191,445 shares of the company’s stock worth $16,277,000 after acquiring an additional 87,879 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PCAR shares. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Truist Financial reissued a “hold” rating and issued a $121.00 target price (up from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Price Performance

Shares of PCAR opened at $106.48 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The stock has a market cap of $55.81 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. The stock’s 50-day moving average price is $108.19 and its two-hundred day moving average price is $107.64. PACCAR Inc has a 1 year low of $78.58 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter last year, the firm earned $2.25 EPS. PACCAR’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were given a $0.30 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is currently 12.45%.

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.