PACCAR Inc. (NASDAQ:PCAR) Shares Bought by Grove Bank & Trust

Grove Bank & Trust grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 61.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 886 shares of the company’s stock after acquiring an additional 336 shares during the period. Grove Bank & Trust’s holdings in PACCAR were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Sagespring Wealth Partners LLC raised its holdings in PACCAR by 16.2% during the first quarter. Sagespring Wealth Partners LLC now owns 8,283 shares of the company’s stock worth $807,000 after purchasing an additional 1,152 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of PACCAR by 1.8% in the first quarter. Janney Montgomery Scott LLC now owns 40,953 shares of the company’s stock valued at $3,988,000 after buying an additional 735 shares in the last quarter. CHB Investment Group LLC raised its stake in shares of PACCAR by 1.4% during the 1st quarter. CHB Investment Group LLC now owns 24,681 shares of the company’s stock worth $2,403,000 after buying an additional 329 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of PACCAR by 27.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,725 shares of the company’s stock worth $168,000 after buying an additional 369 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of PACCAR by 15.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock worth $77,404,000 after buying an additional 104,281 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Citigroup reduced their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. Finally, UBS Group cut PACCAR from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.14.

Insider Activity

In other news, Director Pierre R. Breber acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director now directly owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $90.72 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $47.62 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 3.37 and a beta of 0.95. The business’s 50-day moving average price is $92.08 and its 200 day moving average price is $100.86. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. The company’s revenue was down 16.0% on a year-over-year basis. On average, research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. PACCAR’s dividend payout ratio is presently 20.00%.

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.