Blue Trust Inc. Grows Stake in PACCAR Inc (NASDAQ:PCAR)

Blue Trust Inc. increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 16.0% in the 4th quarter, Holdings Channel reports. The firm owned 4,427 shares of the company’s stock after purchasing an additional 611 shares during the period. Blue Trust Inc.’s holdings in PACCAR were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCAR. Everence Capital Management Inc. purchased a new stake in shares of PACCAR during the fourth quarter worth approximately $1,984,000. Sanctuary Advisors LLC boosted its stake in PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. grew its holdings 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 buying an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC raised its position in shares of PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.32.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Down 1.4 %

Shares of PACCAR stock opened at $110.88 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a market capitalization of $58.13 billion, a P/E ratio of 14.02, a P/E/G ratio of 2.83 and a beta of 0.93. The company has a 50 day moving average of $110.44 and a 200 day moving average of $104.55.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, research analysts forecast that PACCAR Inc will post 7.71 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 15.17%.

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.