PACCAR Inc (NASDAQ:PCAR) Stake Lifted by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust increased its stake in PACCAR Inc (NASDAQ:PCAR) by 54.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,722 shares of the company’s stock after acquiring an additional 607 shares during the period. Parkside Financial Bank & Trust’s holdings in PACCAR were worth $168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of PACCAR in the third quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its holdings in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of PACCAR in the third quarter valued at approximately $30,000. Finally, NBC Securities Inc. bought a new position in shares of PACCAR in the third quarter valued at approximately $34,000. 64.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at $493,675,224.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Up 0.4 %

PACCAR stock opened at $113.74 on Thursday. The company has a market capitalization of $59.60 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.70 and a beta of 0.92. The firm’s fifty day simple moving average is $116.40 and its 200-day simple moving average is $101.52. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The business had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. PACCAR’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 EPS. Sell-side analysts forecast that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. PACCAR’s dividend payout ratio is currently 12.31%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen upped their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Truist Financial assumed coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target for the company. Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.82.

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.