Blue Trust Inc. Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Blue Trust Inc. grew its stake in PACCAR Inc (NASDAQ:PCAR) by 16.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,427 shares of the company’s stock after acquiring an additional 611 shares during the period. Blue Trust Inc.’s holdings in PACCAR were worth $437,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PCAR. Everence Capital Management Inc. bought a new position in shares of PACCAR during the 4th quarter worth $1,984,000. Sanctuary Advisors LLC grew its holdings in PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. grew its holdings in PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after acquiring an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC increased its position in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,871 shares of company stock valued at $14,586,333 in the last quarter. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Citigroup dropped their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.32.

PACCAR Trading Down 1.4 %

Shares of NASDAQ:PCAR opened at $110.88 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a market cap of $58.13 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 2.83 and a beta of 0.93. The business has a 50-day moving average price of $110.44 and a 200-day moving average price of $104.55.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts predict that PACCAR Inc will post 7.71 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 15.17%.

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.