Greenleaf Trust Acquires 178 Shares of PACCAR Inc (NASDAQ:PCAR)

Greenleaf Trust raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,304 shares of the company’s stock after acquiring an additional 178 shares during the quarter. Greenleaf Trust’s holdings in PACCAR were worth $1,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its holdings in shares of PACCAR by 49.0% during the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after purchasing an additional 7,020,923 shares in the last quarter. Geode Capital Management LLC raised its position in PACCAR by 53.3% in the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock worth $858,948,000 after buying an additional 4,082,677 shares during the last quarter. Norges Bank bought a new position in PACCAR during the 4th quarter valued at about $323,885,000. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 249.2% during the 1st quarter. Wellington Management Group LLP now owns 3,845,387 shares of the company’s stock valued at $338,663,000 after acquiring an additional 2,744,040 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of PACCAR by 2,578.2% in the first quarter. Mercer Global Advisors Inc. ADV now owns 2,292,972 shares of the company’s stock worth $167,846,000 after acquiring an additional 2,207,357 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total value of $2,818,604.40. Following the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 in the last quarter. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

NASDAQ:PCAR opened at $111.19 on Monday. The stock has a 50-day moving average price of $115.97 and a 200 day moving average price of $101.06. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50. The stock has a market capitalization of $58.26 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.67 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.25 by $0.45. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 earnings per share. Equities research analysts forecast that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.97%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is presently 12.31%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PCAR shares. The Goldman Sachs Group increased their price objective on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Morgan Stanley started coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target on the stock. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. TD Cowen raised their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. Finally, Evercore ISI upped their price target on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $110.82.

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.