Greenleaf Trust Acquires 295 Shares of PACCAR Inc (NASDAQ:PCAR)

Greenleaf Trust lifted its position in PACCAR Inc (NASDAQ:PCAR) by 2.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,843 shares of the company’s stock after acquiring an additional 295 shares during the period. Greenleaf Trust’s holdings in PACCAR were worth $1,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after buying an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. increased its position in PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $109.13 on Tuesday. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a fifty day moving average price of $110.36 and a 200-day moving average price of $104.53. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The firm has a market cap of $57.22 billion, a PE ratio of 13.80, a P/E/G ratio of 2.87 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts predict that PACCAR Inc will post 7.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is presently 16.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PCAR shares. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,871 shares of company stock valued at $14,586,333 over the last ninety days. Company insiders own 2.02% of the company’s stock.

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.