Amalgamated Bank Acquires 7,133 Shares of PACCAR Inc (NASDAQ:PCAR)

Amalgamated Bank raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 6.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,447 shares of the company’s stock after purchasing an additional 7,133 shares during the period. Amalgamated Bank’s holdings in PACCAR were worth $11,096,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PCAR. First National Bank of Mount Dora Trust Investment Services increased its holdings in shares of PACCAR by 20.8% during the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 20,638 shares of the company’s stock valued at $2,037,000 after acquiring an additional 3,548 shares in the last quarter. Leeward Financial Partners LLC boosted its stake in PACCAR by 7.7% in the 3rd quarter. Leeward Financial Partners LLC now owns 17,780 shares of the company’s stock worth $1,755,000 after purchasing an additional 1,267 shares in the last quarter. QRG Capital Management Inc. grew its position in PACCAR by 8.5% during the 3rd quarter. QRG Capital Management Inc. now owns 366,880 shares of the company’s stock valued at $36,204,000 after purchasing an additional 28,806 shares during the last quarter. National Pension Service increased its stake in PACCAR by 4.3% during the 3rd quarter. National Pension Service now owns 1,639,539 shares of the company’s stock valued at $161,790,000 after purchasing an additional 68,064 shares in the last quarter. Finally, Harbour Investment Management LLC raised its holdings in PACCAR by 1.3% in the third quarter. Harbour Investment Management LLC now owns 54,202 shares of the company’s stock worth $5,349,000 after buying an additional 695 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PCAR shares. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial increased their price objective on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $113.82.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s 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 directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Up 3.1 %

PCAR opened at $108.07 on Wednesday. The firm’s 50 day simple moving average is $100.78 and its two-hundred day simple moving average is $102.56. The company has a market capitalization of $56.66 billion, a PE ratio of 12.07, a PEG ratio of 1.61 and a beta of 0.89. PACCAR Inc has a 1-year low of $85.14 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.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 earnings per share. As a group, equities analysts forecast that PACCAR Inc will post 8 EPS for the current 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. This represents a $1.20 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is 13.41%.

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.