Heritage Trust Co Raises Position in PACCAR Inc. $PCAR

Heritage Trust Co grew its position in PACCAR Inc. (NASDAQ:PCAR) by 12.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,436 shares of the company’s stock after buying an additional 7,122 shares during the period. Heritage Trust Co’s holdings in PACCAR were worth $6,837,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ares Financial Consulting LLC purchased a new position in PACCAR in the fourth quarter worth about $27,000. Elyxium Wealth LLC purchased a new position in PACCAR in the fourth quarter worth about $30,000. Camelot Portfolios LLC purchased a new position in PACCAR in the fourth quarter worth about $33,000. Wealth Watch Advisors INC purchased a new position in shares of PACCAR during the third quarter valued at approximately $32,000. Finally, True Wealth Design LLC raised its holdings in shares of PACCAR by 61.1% during the fourth quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 138 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.8%

Shares of PCAR stock opened at $109.47 on Tuesday. The stock has a market cap of $57.61 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.02 and a beta of 0.98. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The company has a 50 day simple moving average of $117.27 and a two-hundred day simple moving average of $116.40. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 earnings per share. On average, research analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 13th. PACCAR’s dividend payout ratio is currently 29.79%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PCAR. Truist Financial boosted their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Finally, Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $122.00.

About PACCAR

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.