Fulton Bank N.A. Has $423,000 Stock Position in PACCAR Inc (NASDAQ:PCAR)

Fulton Bank N.A. lifted its position in PACCAR Inc (NASDAQ:PCAR) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,066 shares of the company’s stock after buying an additional 167 shares during the quarter. Fulton Bank N.A.’s holdings in PACCAR were worth $423,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of PACCAR during the second quarter worth $26,000. Meeder Asset Management Inc. increased its position in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR in the 2nd quarter worth about $36,000. Grove Bank & Trust boosted its holdings in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the period. Finally, Sander Capital Advisors Inc. bought a new stake in PACCAR in the 3rd quarter valued at about $50,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of analyst reports. Truist Financial lifted their price target on shares of PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Citigroup boosted their price target on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $118.50.

PACCAR Price Performance

PACCAR stock opened at $106.58 on Friday. The company has a market capitalization of $55.88 billion, a PE ratio of 11.91, a P/E/G ratio of 1.77 and a beta of 0.93. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $111.26 and a two-hundred day moving average price of $103.83. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 EPS. Analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 14.75%.

Insider Activity

In other news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Profile

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.