Fulton Bank N.A. Trims Stake in PACCAR Inc (NASDAQ:PCAR)

Fulton Bank N.A. reduced its position in PACCAR Inc (NASDAQ:PCAR) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,607 shares of the company’s stock after selling 371 shares during the quarter. Fulton Bank N.A.’s holdings in PACCAR were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PSI Advisors LLC purchased a new stake in shares of PACCAR in the first quarter worth $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR in the first quarter worth $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR in the first quarter worth $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR in the first quarter worth $29,000. Finally, Rise Advisors LLC purchased a new stake in shares of PACCAR in the first quarter worth $31,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PCAR shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Citigroup began coverage on shares of PACCAR in a research note on Wednesday, June 26th. They set a “neutral” rating and a $115.00 target price for the company. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial cut their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $114.27.

PACCAR Price Performance

PCAR stock traded up $0.35 during trading on Tuesday, hitting $92.28. 3,282,006 shares of the company’s stock traded hands, compared to its average volume of 2,673,631. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.78. The business has a fifty day simple moving average of $103.92 and a 200 day simple moving average of $108.79. The stock has a market capitalization of $48.37 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 1.49 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter last year, the business earned $2.33 EPS. PACCAR’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts expect that PACCAR Inc will post 8.11 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.