Blue Trust Inc. Sells 212 Shares of PACCAR Inc. (NASDAQ:PCAR)

Blue Trust Inc. decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 990 shares of the company’s stock after selling 212 shares during the period. Blue Trust Inc.’s holdings in PACCAR were worth $96,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its position in PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after purchasing an additional 6,494 shares during the period. LPL Financial LLC raised its position in PACCAR by 6.1% in the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after acquiring an additional 12,143 shares during the period. American Century Companies Inc. raised its position in PACCAR by 15.8% in the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock worth $65,675,000 after acquiring an additional 86,215 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in PACCAR by 15.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock worth $77,404,000 after acquiring an additional 104,281 shares during the period. Finally, Natixis Advisors LLC raised its position in PACCAR by 20.8% in the fourth quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company’s stock worth $108,468,000 after acquiring an additional 179,577 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

PCAR opened at $94.14 on Thursday. The stock has a market capitalization of $49.42 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 3.48 and a beta of 0.95. The company has a fifty day moving average of $92.43 and a 200 day moving average of $100.01. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business’s revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.27 earnings per share. As a group, sell-side analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.40%. PACCAR’s payout ratio is 20.00%.

Analysts Set New Price Targets

PCAR has been the topic of several recent research reports. Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday. Evercore ISI decreased their price target on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, May 19th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Morgan Stanley cut shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a research note on Wednesday, April 16th. Finally, Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.59.

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.