US Bancorp DE Sells 1,019 Shares of PACCAR Inc (NASDAQ:PCAR)

US Bancorp DE lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,626,605 shares of the company’s stock after selling 1,019 shares during the period. US Bancorp DE owned about 0.69% of PACCAR worth $357,875,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. State Board of Administration of Florida Retirement System grew its holdings in shares of PACCAR by 4.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after purchasing an additional 27,963 shares during the last quarter. BDF Gestion bought a new position in PACCAR in the 2nd quarter worth about $2,862,000. Advisory Services Network LLC increased its position in shares of PACCAR by 15.9% during the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after acquiring an additional 7,678 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of PACCAR by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of PACCAR in the first quarter valued at approximately $1,359,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.0 %

Shares of PACCAR stock traded down $1.05 during trading on Thursday, reaching $103.85. The company’s stock had a trading volume of 163,268 shares, compared to its average volume of 2,622,678. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a 50-day simple moving average of $100.01 and a two-hundred day simple moving average of $102.94. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.52. The company has a market cap of $54.44 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.65 and a beta of 0.91.

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 the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned $2.34 earnings per share. As a group, equities analysts forecast that PACCAR Inc will post 8 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.16%. PACCAR’s dividend payout ratio is currently 13.41%.

Wall Street Analyst Weigh In

PCAR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Citigroup raised their target price on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Truist Financial lifted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $114.18.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,124 shares of company stock worth $3,543,740. 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.