Northern Trust Corp Has $704.96 Million Stock Position in PACCAR Inc. $PCAR

Northern Trust Corp grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,239,967 shares of the company’s stock after purchasing an additional 37,609 shares during the period. Northern Trust Corp owned approximately 1.38% of PACCAR worth $704,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Brooklyn Investment Group raised its holdings in shares of PACCAR by 33.4% during the first quarter. Brooklyn Investment Group now owns 6,070 shares of the company’s stock valued at $591,000 after purchasing an additional 1,521 shares during the period. Corient IA LLC acquired a new position in shares of PACCAR during the first quarter valued at about $341,000. American Century Companies Inc. raised its holdings in shares of PACCAR by 16.2% during the first quarter. American Century Companies Inc. now owns 733,561 shares of the company’s stock valued at $71,427,000 after purchasing an additional 102,192 shares during the period. Ethic Inc. raised its holdings in shares of PACCAR by 3.5% during the first quarter. Ethic Inc. now owns 118,652 shares of the company’s stock valued at $11,662,000 after purchasing an additional 3,990 shares during the period. Finally, Aberdeen Group plc raised its holdings in shares of PACCAR by 126.3% during the first quarter. Aberdeen Group plc now owns 523,996 shares of the company’s stock valued at $50,770,000 after purchasing an additional 292,399 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCAR. Royal Bank Of Canada dropped their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Truist Financial lowered their target price on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a report on Wednesday, July 23rd. Evercore ISI lowered their target price on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Finally, UBS Group upgraded shares of PACCAR from a “sell” rating to a “neutral” rating and upped their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.77.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Up 0.2%

PACCAR stock opened at $98.38 on Tuesday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The firm has a 50 day moving average price of $96.42 and a 200-day moving average price of $96.93. The company has a market capitalization of $51.66 billion, a P/E ratio of 16.85, a P/E/G ratio of 3.94 and a beta of 0.91. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the firm earned $2.13 EPS. The company’s revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR’s dividend payout ratio is currently 22.60%.

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.