PACCAR Inc. $PCAR Shares Sold by Greenleaf Trust

Greenleaf Trust reduced its holdings in PACCAR Inc. (NASDAQ:PCAR) by 7.1% during the 2nd quarter, Holdings Channel reports. The firm owned 10,962 shares of the company’s stock after selling 839 shares during the quarter. Greenleaf Trust’s holdings in PACCAR were worth $1,042,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PCAR. Brighton Jones LLC grew its stake in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after acquiring an additional 290 shares during the period. Merit Financial Group LLC grew its position in shares of PACCAR by 28.2% in the first quarter. Merit Financial Group LLC now owns 10,370 shares of the company’s stock valued at $1,010,000 after purchasing an additional 2,281 shares during the period. Matrix Trust Co grew its position in shares of PACCAR by 43.2% in the first quarter. Matrix Trust Co now owns 2,381 shares of the company’s stock valued at $232,000 after purchasing an additional 718 shares during the period. Vest Financial LLC grew its position in shares of PACCAR by 14.6% in the first quarter. Vest Financial LLC now owns 353,498 shares of the company’s stock valued at $34,420,000 after purchasing an additional 45,142 shares during the period. Finally, Curat Global LLC acquired a new stake in shares of PACCAR in the first quarter valued at about $214,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

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

PACCAR Trading Down 0.6%

Shares of PCAR stock opened at $97.71 on Thursday. The company’s 50-day moving average price is $99.15 and its 200-day moving average price is $95.68. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock has a market cap of $51.31 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 3.99 and a beta of 0.94. 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 results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company’s revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 EPS. As a group, equities analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR’s dividend payout ratio is currently 22.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Citigroup lifted their price target on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price target on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note 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 research note on Wednesday, July 23rd. Finally, Argus raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.68.

About PACCAR

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.