Huntington National Bank Raises Stock Position in PACCAR Inc (NASDAQ:PCAR)

Huntington National Bank grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 126.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,386 shares of the company’s stock after acquiring an additional 1,334 shares during the quarter. Huntington National Bank’s holdings in PACCAR were worth $248,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Madrona Financial Services LLC increased its position in PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after acquiring an additional 91 shares during the last quarter. Global Financial Private Client LLC grew its holdings in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. PDS Planning Inc grew its holdings in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after purchasing an additional 101 shares during the last quarter. Valley National Advisers Inc. raised its position in PACCAR by 0.6% in the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PACCAR by 14.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock valued at $88,000 after buying an additional 107 shares during the period. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Citigroup cut their price target on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $117.54.

PACCAR Trading Down 1.6 %

Shares of NASDAQ:PCAR opened at $90.88 on Friday. The company has a market capitalization of $47.71 billion, a PE ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $89.67 and a 12-month high of $123.20. The business’s fifty day simple moving average is $103.74 and its 200-day simple moving average is $106.63.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.45%. PACCAR’s dividend payout ratio is presently 16.69%.

Insider Buying and Selling at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last three months. Corporate insiders own 2.02% of the company’s stock.

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.