US Bancorp DE Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

US Bancorp DE cut its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,626,605 shares of the company’s stock after selling 1,019 shares during the period. US Bancorp DE’s holdings in PACCAR were worth $357,875,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC raised its stake in shares of PACCAR by 10.7% during the 3rd quarter. SteelPeak Wealth LLC now owns 20,326 shares of the company’s stock worth $2,006,000 after buying an additional 1,967 shares during the period. Pinnacle Associates Ltd. grew its stake in PACCAR by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 11,619 shares of the company’s stock valued at $1,135,000 after acquiring an additional 386 shares during the period. First Trust Direct Indexing L.P. increased its holdings in PACCAR by 9.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 17,423 shares of the company’s stock worth $1,719,000 after acquiring an additional 1,508 shares in the last quarter. Integrated Advisors Network LLC raised its position in PACCAR by 478.8% during the third quarter. Integrated Advisors Network LLC now owns 13,313 shares of the company’s stock worth $1,314,000 after acquiring an additional 11,013 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in PACCAR by 111.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,649 shares of the company’s stock worth $656,000 after acquiring an additional 3,498 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 1.0 %

PCAR stock traded down $1.05 during trading on Thursday, reaching $103.85. 163,268 shares of the stock were exchanged, compared to its average volume of 2,622,678. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $54.44 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.65 and a beta of 0.91. The business has a 50 day moving average price of $100.01 and a 200-day moving average price of $102.94. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the company earned $2.34 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc will post 8 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PCAR. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial increased their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Citigroup lifted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI reduced their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus target price of $114.18.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction dated 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 sale, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now owns 7,121 shares in the company, valued at approximately $761,947. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,124 shares of company stock worth $3,543,740. 2.02% of the stock is currently owned by company insiders.

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.