Canandaigua National Bank & Trust Co. Sells 264 Shares of PACCAR Inc (NASDAQ:PCAR)

Canandaigua National Bank & Trust Co. cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,063 shares of the company’s stock after selling 264 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in PACCAR were worth $1,255,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Quarry LP bought a new position in PACCAR in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. grew its position in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR in the 2nd quarter worth $36,000. Grove Bank & Trust raised its position in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the last quarter. Finally, Sander Capital Advisors Inc. acquired a new position in shares of PACCAR during the third quarter valued at about $50,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Citigroup lifted their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Truist Financial raised their price objective on shares of PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $118.50.

Insider Activity

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

NASDAQ:PCAR opened at $107.24 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a market cap of $56.23 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company’s 50-day moving average price is $110.98 and its two-hundred day moving average price is $103.74.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the business earned $2.34 EPS. PACCAR’s revenue was down 5.2% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is presently 14.75%.

PACCAR Company 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.