PACCAR Inc. $PCAR Holdings Lifted by Ashurst Perkins Coie Trust Co

Ashurst Perkins Coie Trust Co increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 2,269.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,279 shares of the company’s stock after acquiring an additional 6,014 shares during the quarter. Ashurst Perkins Coie Trust Co’s holdings in PACCAR were worth $689,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of PACCAR during the 2nd quarter worth approximately $4,927,720,000. Bank of America Corp DE bought a new position in PACCAR during the 2nd quarter worth $1,130,496,000. Bank of New York Mellon Corp bought a new position in PACCAR during the 2nd quarter worth $453,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PACCAR by 9.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,424,315 shares of the company’s stock worth $411,329,000 after acquiring an additional 305,215 shares during the period. Finally, Amundi raised its holdings in PACCAR by 108.7% in the 2nd quarter. Amundi now owns 3,197,359 shares of the company’s stock valued at $384,066,000 after acquiring an additional 1,665,545 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company set a $122.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Thursday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Royal Bank Of Canada raised PACCAR from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $130.00 to $150.00 in a research note on Thursday, September 10th. Jefferies Financial Group upped their price objective on shares of PACCAR from $120.00 to $140.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Finally, Truist Financial set a $125.00 price objective on shares of PACCAR and gave the stock a “hold” rating in a research note on Monday, October 5th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $131.50.

PACCAR Stock Up 0.5%

Shares of PCAR opened at $108.56 on Thursday. PACCAR Inc. has a one year low of $93.19 and a one year high of $139.24. The company has a market cap of $57.14 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.24 and a beta of 0.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The firm has a 50 day simple moving average of $120.42 and a two-hundred day simple moving average of $120.55.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the business posted $1.37 EPS. The company’s revenue was up .5% compared to the same quarter last year. Research analysts forecast that PACCAR Inc. will post 5.91 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, November 10th. PACCAR’s payout ratio is currently 29.41%.

Insiders Place Their Bets

In other PACCAR news, CEO R Feight sold 50,975 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company’s stock.

PACCAR Profile

PACCAR Inc is a global manufacturer of heavy-duty trucks and related transportation products. The company designs, develops and markets trucks under the Kenworth, Peterbilt and DAF brands, serving the long-haul, construction, vocational and distribution markets.

In addition to complete trucks, PACCAR provides diesel and electric powertrains, engines, parts and related aftermarket services. Its PACCAR Parts business distributes replacement parts and accessories through a network of distribution centers and dealerships, while PACCAR Financial offers retail and wholesale financing and leasing services to customers and dealers.

Founded in 1905, PACCAR has grown from a regional equipment manufacturer into an international transportation company.