CHICAGO TRUST Co NA Invests $917,000 in PACCAR Inc. $PCAR

Key Points

• Chicago Trust Co NA has invested approximately $917,000 in PACCAR Inc. by acquiring 9,650 shares during the second quarter.
• Institutional investors and hedge funds hold a significant stake in PACCAR, with 64.90% of the company's stock owned by such entities.
• PACCAR will pay a quarterly dividend of $0.33 per share on December 3rd, representing a 1.4% yield based on its current pricing.

CHICAGO TRUST Co NA bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,650 shares of the company's stock, valued at approximately $917,000.

A number of other institutional investors have also recently added to or reduced their stakes in PCAR. E Fund Management Hong Kong Co. Ltd. lifted its holdings in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after buying an additional 240 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of PACCAR in the first quarter worth about $29,000. Sunbelt Securities Inc. lifted its stake in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Bayforest Capital Ltd lifted its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in shares of PACCAR in the first quarter worth about $40,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Citigroup upped their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and upped their price target for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Finally, Evercore ISI set a $114.00 target price on shares of PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.68.

PACCAR Stock Up 0.7%

PCAR opened at $97.75 on Wednesday. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The stock has a market cap of $51.33 billion, a P/E ratio of 16.74, a P/E/G ratio of 3.90 and a beta of 0.94. The stock's 50 day moving average price is $98.89 and its 200 day moving average price is $95.83.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the company earned $2.13 earnings per share. As a group, research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc. (NASDAQ:PCAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.