Whittier Trust Co. Sells 319 Shares of PACCAR Inc (NASDAQ:PCAR)

Whittier Trust Co. lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,774 shares of the company’s stock after selling 319 shares during the quarter. Whittier Trust Co.’s holdings in PACCAR were worth $2,149,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PCAR. Capital International Investors increased its holdings in shares of PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares during the period. Renaissance Technologies LLC purchased a new position in PACCAR in the second quarter valued at about $88,437,000. Dorsey & Whitney Trust CO LLC raised its holdings in PACCAR by 3,636.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock worth $67,696,000 after purchasing an additional 531,794 shares in the last quarter. TD Asset Management Inc lifted its position in shares of PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after buying an additional 504,346 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of PACCAR in the 2nd quarter valued at about $51,277,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Raymond James began coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Citigroup raised their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $114.00.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $104.79 on Wednesday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The company’s 50 day moving average is $98.78 and its 200 day moving average is $103.41. The company has a market cap of $54.93 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 EPS. On average, sell-side analysts forecast that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.15%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.71%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.02% of the company’s stock.

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.