Canandaigua National Bank & Trust Co. Has $850,000 Stake in PACCAR Inc (NASDAQ:PCAR)

Canandaigua National Bank & Trust Co. boosted its position in PACCAR Inc (NASDAQ:PCAR) by 44.3% in the second quarter, Holdings Channel.com reports. The firm owned 8,262 shares of the company’s stock after purchasing an additional 2,538 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in PACCAR were worth $850,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of PACCAR in the fourth quarter worth $448,288,000. Capital International Investors grew its position in shares of PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after buying an additional 1,225,468 shares during the last quarter. TD Asset Management Inc grew its position in shares of PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after buying an additional 1,095,894 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of PACCAR in the fourth quarter valued at about $87,441,000. Finally, Epoch Investment Partners Inc. raised its position in shares of PACCAR by 113.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock worth $103,408,000 after acquiring an additional 562,571 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the company’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 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 at this hyperlink. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PCAR shares. Raymond James started coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Citigroup assumed coverage on shares of PACCAR in a research report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price target on the stock. The Goldman Sachs Group lifted their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. cut their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $114.27.

PACCAR Stock Down 0.5 %

NASDAQ:PCAR traded down $0.48 on Friday, hitting $92.80. The stock had a trading volume of 1,057,187 shares, compared to its average volume of 2,657,181. The company has a quick ratio of 1.43, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The business’s fifty day moving average is $103.08 and its 200 day moving average is $108.53. The company has a market cap of $48.64 billion, a PE ratio of 9.71, a P/E/G ratio of 1.49 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc will post 8.11 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

PACCAR 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.