PACCAR Inc (NASDAQ:PCAR) Stock Holdings Lifted by Washington Trust Bank

Washington Trust Bank lifted its position in PACCAR Inc (NASDAQ:PCAR) by 0.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 762,253 shares of the company’s stock after acquiring an additional 124 shares during the quarter. PACCAR makes up about 7.2% of Washington Trust Bank’s holdings, making the stock its biggest holding. Washington Trust Bank owned 0.15% of PACCAR worth $75,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCAR. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR in the 1st quarter valued at about $27,000. Quarry LP purchased a new stake in PACCAR in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its stake in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR during the 2nd quarter valued at $36,000. Finally, Fortitude Family Office LLC increased its stake in shares of PACCAR by 200.0% in the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after acquiring an additional 244 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock traded up $7.94 during mid-day trading on Thursday, reaching $116.01. The company had a trading volume of 4,611,008 shares, compared to its average volume of 2,643,070. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a market cap of $60.82 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.64 and a beta of 0.89. The company has a 50 day moving average of $101.21 and a 200-day moving average of $102.66. PACCAR Inc has a 52 week low of $85.14 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released 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. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the business earned $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, sell-side analysts expect that PACCAR Inc will post 8 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 0.00 % 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 this link. Also, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares in the company, valued at approximately $761,947. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PCAR shares. Truist Financial boosted their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI reduced their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $113.82.

About PACCAR

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.