PACCAR Inc (NASDAQ:PCAR) Stock Holdings Decreased by Bank of Montreal Can

Bank of Montreal Can lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 566,833 shares of the company’s stock after selling 10,418 shares during the period. Bank of Montreal Can’s holdings in PACCAR were worth $55,623,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR during the 1st quarter valued at about $27,000. Quarry LP bought a new stake in shares of PACCAR during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. grew its position in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR during the 2nd quarter valued at about $36,000. Finally, Fortitude Family Office LLC grew its position in shares of PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after buying an additional 244 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last ninety days. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PCAR. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Truist Financial upped their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $117.64.

PACCAR Trading Up 0.3 %

Shares of NASDAQ:PCAR opened at $116.18 on Thursday. The company has a 50 day moving average of $106.94 and a 200-day moving average of $103.19. The firm has a market cap of $60.91 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.83 and a beta of 0.89. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

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

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend 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.