PACCAR Inc. $PCAR Shares Sold by Washington Trust Bank

Washington Trust Bank lessened its holdings in PACCAR Inc. (NASDAQ:PCAR) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 751,384 shares of the company’s stock after selling 8,180 shares during the quarter. PACCAR accounts for about 5.4% of Washington Trust Bank’s holdings, making the stock its 4th biggest position. Washington Trust Bank owned approximately 0.14% of PACCAR worth $73,876,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PCAR. Hazlett Burt & Watson Inc. boosted its stake in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after acquiring an additional 105 shares during the period. Intellectus Partners LLC boosted its position in shares of PACCAR by 1.0% during the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after purchasing an additional 109 shares in the last quarter. Matrix Trust Co boosted its position in shares of PACCAR by 3.9% during the 3rd quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock worth $290,000 after purchasing an additional 110 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its stake in shares of PACCAR by 1.2% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after purchasing an additional 116 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on PCAR. UBS Group set a $103.00 price objective on shares of PACCAR and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Truist Financial increased their target price on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $90.00 price objective on shares of PACCAR in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $111.04.

PACCAR Stock Up 0.5%

Shares of NASDAQ:PCAR opened at $118.80 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $62.39 billion, a P/E ratio of 23.25, a P/E/G ratio of 14.78 and a beta of 1.01. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $119.21. The stock’s fifty day simple moving average is $106.78 and its 200-day simple moving average is $101.16.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s payout ratio is 25.83%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.