PACCAR Inc. $PCAR Holdings Lowered by Dorsey & Whitney Trust CO LLC

Key Points

• Dorsey & Whitney Trust CO LLC has sold 89,982 shares of PACCAR Inc., reducing its stake by 15.8%, and now holds approximately 479,457 shares worth around $46.7 million.
• PACCAR reported $1.37 earnings per share for the last quarter, surpassing analysts' expectations, despite a 15.7% decrease in revenue year-over-year.
• The company announced a quarterly dividend of $0.33, with an upcoming payout date of September 4th, reflecting a dividend yield of 1.3%.

Dorsey & Whitney Trust CO LLC lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 15.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 479,457 shares of the company's stock after selling 89,982 shares during the quarter. PACCAR makes up 2.7% of Dorsey & Whitney Trust CO LLC's portfolio, making the stock its 4th biggest position. Dorsey & Whitney Trust CO LLC owned 0.09% of PACCAR worth $46,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Farmers & Merchants Investments Inc. grew its stake in shares of PACCAR by 33.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after acquiring an additional 116 shares during the last quarter. RMR Wealth Builders grew its position in PACCAR by 1.4% in the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock worth $848,000 after purchasing an additional 122 shares during the period. Applied Capital LLC FL boosted its position in PACCAR by 0.5% in the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after purchasing an additional 124 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in PACCAR by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after purchasing an additional 130 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock valued at $228,000 after purchasing an additional 130 shares during the period. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on PCAR. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research report on Monday, July 28th. Royal Bank Of Canada dropped their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Finally, Truist Financial dropped their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, PACCAR currently has an average rating of "Moderate Buy" and an average target price of $107.68.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company's stock, valued at $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value 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 trade represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Price Performance

Shares of PACCAR stock traded up $3.96 on Friday, hitting $101.50. The company's stock had a trading volume of 3,345,420 shares, compared to its average volume of 2,405,367. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The company has a market capitalization of $53.30 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 3.92 and a beta of 0.91. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The firm has a fifty day moving average price of $96.87 and a 200-day moving average price of $96.83.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the previous year, the firm posted $2.13 EPS. PACCAR's revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is 22.60%.

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.