PACCAR Inc (NASDAQ:PCAR) Holdings Raised by Fiduciary Trust Co

Fiduciary Trust Co increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 33.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,012 shares of the company’s stock after purchasing an additional 3,250 shares during the period. Fiduciary Trust Co’s holdings in PACCAR were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PCAR. BDF Gestion bought a new position in shares of PACCAR in the 2nd quarter worth about $2,862,000. Mengis Capital Management Inc. raised its stake in PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after acquiring an additional 5,433 shares during the period. Fisher Asset Management LLC raised its stake in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after acquiring an additional 5,437 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in PACCAR by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company’s stock valued at $301,260,000 after acquiring an additional 47,855 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research reports. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Citigroup increased their target price on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $117.64.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred 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 transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Up 0.7 %

Shares of PCAR stock opened at $117.00 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $107.64 and a 200 day simple moving average of $103.35. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The stock has a market capitalization of $61.34 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.82 and a beta of 0.89.

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

PACCAR Announces Dividend

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

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.