PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Washington Trust Bank

Washington Trust Bank lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 0.0% during the third quarter, Holdings Channel.com reports. The firm owned 762,253 shares of the company’s stock after buying an additional 124 shares during the period. PACCAR accounts for approximately 7.2% of Washington Trust Bank’s holdings, making the stock its largest position. Washington Trust Bank’s holdings in PACCAR were worth $75,219,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after buying an additional 178,813 shares during the last quarter. Malaga Cove Capital LLC boosted its holdings in PACCAR by 55.8% in the third quarter. Malaga Cove Capital LLC now owns 4,816 shares of the company’s stock valued at $475,000 after acquiring an additional 1,724 shares during the last quarter. Graypoint LLC increased its position in PACCAR by 3.0% in the third quarter. Graypoint LLC now owns 3,908 shares of the company’s stock worth $386,000 after purchasing an additional 115 shares during the period. Harvest Portfolios Group Inc. raised its holdings in PACCAR by 42.1% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 10,816 shares of the company’s stock worth $1,067,000 after purchasing an additional 3,204 shares during the last quarter. Finally, Amalgamated Bank lifted its position in PACCAR by 6.8% during the 3rd quarter. Amalgamated Bank now owns 112,447 shares of the company’s stock valued at $11,096,000 after purchasing an additional 7,133 shares during the period. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

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

PACCAR Stock Up 7.3 %

PCAR traded up $7.94 during trading on Thursday, hitting $116.01. The company had a trading volume of 4,611,008 shares, compared to its average volume of 2,643,070. The firm’s 50-day moving average price is $101.21 and its 200 day moving average price is $102.66. The company has a market capitalization of $60.82 billion, a PE ratio of 12.96, a PEG ratio of 1.64 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a one year low of $85.14 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. As a group, equities analysts expect that PACCAR Inc will post 8 earnings per share for the current year.

PACCAR Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PCAR. Citigroup lifted their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced 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. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $113.82.

PACCAR Company 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.