Northern Trust Corp Grows Stock Holdings in PACCAR Inc. $PCAR

Key Points

• Northern Trust Corp increased its stake in PACCAR Inc. to approximately 7.24 million shares, valued at $704.96 million, representing a 0.5% growth during the first quarter.
• Several institutional investors raised their holdings in PACCAR, with notable increases including Aberdeen Group plc at 126.3% and American Century Companies Inc. at 16.2%.
• PACCAR will pay a $0.33 quarterly dividend on September 4th, representing an annualized dividend yield of 1.3%. The company has a dividend payout ratio of 22.60%.

Northern Trust Corp lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,239,967 shares of the company's stock after purchasing an additional 37,609 shares during the quarter. Northern Trust Corp owned about 1.38% of PACCAR worth $704,956,000 at the end of the most recent reporting period.

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

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded up $3.96 during midday trading on Friday, reaching $101.50. The company had a trading volume of 3,345,420 shares, compared to its average volume of 2,423,486. The company's 50 day moving average price is $96.87 and its 200 day moving average price is $96.68. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock has a market cap of $53.30 billion, a P/E ratio of 17.38, a P/E/G ratio of 4.07 and a beta of 0.91. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

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

PACCAR Announces Dividend

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

Insider Activity at PACCAR

In other news, 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm'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 transaction of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent research reports. Citigroup raised their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research report on Monday, July 28th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial decreased their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Two research 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

PACCAR Company 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.