PACCAR Inc (NASDAQ:PCAR) Position Increased by UMB Bank n.a.

UMB Bank n.a. increased its position in PACCAR Inc (NASDAQ:PCAR) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 33,288 shares of the company’s stock after purchasing an additional 601 shares during the period. UMB Bank n.a.’s holdings in PACCAR were worth $3,285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCAR. Oracle Alpha Inc. acquired a new position in PACCAR in the 4th quarter worth approximately $359,000. Optimist Retirement Group LLC acquired a new position in PACCAR in the 4th quarter worth approximately $37,032,000. Hobbs Group Advisors LLC acquired a new position in PACCAR in the 4th quarter worth approximately $438,000. Integrated Advisors Network LLC acquired a new position in PACCAR in the 4th quarter worth approximately $225,000. Finally, Syon Capital LLC boosted its stake in PACCAR by 9.7% in the 4th quarter. Syon Capital LLC now owns 6,494 shares of the company’s stock worth $634,000 after purchasing an additional 574 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 0.1 %

PACCAR stock opened at $103.62 on Friday. The company has a market capitalization of $54.32 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.61 and a beta of 0.91. The firm’s fifty day simple moving average is $96.24 and its 200-day simple moving average is $104.52. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.33 EPS. Sell-side analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.16%. PACCAR’s dividend payout ratio (DPR) is presently 12.71%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCAR. Truist Financial decreased their target price on shares of PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI decreased their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.09.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction on 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 transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.02% of the company’s stock.

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.