Chase Investment Counsel Corp Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Chase Investment Counsel Corp increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 45.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,200 shares of the company’s stock after purchasing an additional 3,800 shares during the period. Chase Investment Counsel Corp’s holdings in PACCAR were worth $1,203,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Security National Bank lifted its holdings in shares of PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after acquiring an additional 93 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares during the period. CVA Family Office LLC increased its position in shares of PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares during the last quarter. Grove Bank & Trust raised its holdings in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the period. Finally, Capital Advisors Wealth Management LLC lifted its position in PACCAR by 3.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 3,145 shares of the company’s stock worth $324,000 after buying an additional 108 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PCAR shares. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their target price for the company from $99.00 to $129.00 in a research note on Wednesday. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley dropped their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.55.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.3 %

Shares of NASDAQ PCAR opened at $116.79 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $61.23 billion, a PE ratio of 13.05, a PEG ratio of 1.82 and a beta of 0.89. PACCAR Inc has a twelve month low of $87.58 and a twelve month high of $125.50. The stock has a fifty day simple moving average of $102.77 and a 200-day simple moving average of $102.65.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the company posted $2.34 EPS. PACCAR’s revenue was down 5.2% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is presently 13.41%.

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.