Huntington National Bank Has $104,000 Holdings in PACCAR Inc (NASDAQ:PCAR)

Huntington National Bank decreased its stake in PACCAR Inc (NASDAQ:PCAR) by 24.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,052 shares of the company’s stock after selling 335 shares during the period. Huntington National Bank’s holdings in PACCAR were worth $104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCAR. BDF Gestion acquired a new stake in shares of PACCAR in the 2nd quarter valued at approximately $2,862,000. Mengis Capital Management Inc. boosted its position in shares of PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of PACCAR in the 1st quarter valued at $1,359,000. Comerica Bank increased its position in shares of PACCAR by 8.7% in the 1st quarter. Comerica Bank now owns 162,864 shares of the company’s stock valued at $20,177,000 after buying an additional 13,075 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in PACCAR by 28.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after acquiring an additional 5,437 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 2.4 %

Shares of PCAR stock opened at $112.26 on Monday. The firm’s fifty day moving average price is $104.03 and its two-hundred day moving average price is $102.78. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm has a market capitalization of $58.86 billion, a P/E ratio of 12.54, a PEG ratio of 1.76 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $2.34 earnings per share. PACCAR’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities analysts predict that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $116.55.

Insider Activity

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. The trade was a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by insiders.

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.