PACCAR Inc (NASDAQ:PCAR) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 142,245 shares of the company’s stock after selling 3,740 shares during the quarter. M&T Bank Corp’s holdings in PACCAR were worth $13,893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PCAR. AdvisorNet Financial Inc lifted its holdings in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of PACCAR during the third quarter worth $26,000. ORG Partners LLC lifted its holdings in shares of PACCAR by 6,200.0% during the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after purchasing an additional 372 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of PACCAR in the 4th quarter valued at $37,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in PACCAR in the 4th quarter worth about $39,000. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PCAR shares. Morgan Stanley initiated coverage on shares of PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective on the stock. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. TD Cowen increased their price objective on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Finally, Royal Bank of Canada started coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

PACCAR Price Performance

Shares of PCAR stock traded down $1.67 during trading hours on Friday, reaching $104.79. 3,899,161 shares of the company were exchanged, compared to its average volume of 2,813,976. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 2.21. The company has a market cap of $54.91 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.63 and a beta of 0.96. The stock’s fifty day moving average is $116.42 and its two-hundred day moving average is $102.53. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $2.25 earnings per share. Sell-side analysts forecast that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is currently 11.20%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of 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 filing with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. 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.