Wilmington Savings Fund Society FSB Purchases New Position in PACCAR Inc (NASDAQ:PCAR)

Wilmington Savings Fund Society FSB purchased a new stake in PACCAR Inc (NASDAQ:PCAR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,726 shares of the company’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brookstone Capital Management grew its stake in PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after buying an additional 94 shares during the last quarter. CVA Family Office LLC grew its stake in PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after buying an additional 97 shares during the last quarter. Omnia Family Wealth LLC grew its stake in PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after buying an additional 98 shares during the last quarter. Grove Bank & Trust grew its stake in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the last quarter. Finally, Insight Wealth Partners LLC grew its stake in PACCAR by 1.4% in the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $111.66 on Wednesday. The company has a 50 day moving average of $111.31 and a 200-day moving average of $103.95. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market cap of $58.54 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 EPS. As a group, equities research analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 in the last quarter. Insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PCAR shares. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley cut their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Finally, Truist Financial boosted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $118.25.

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.