New Covenant Trust Company N.A. Invests $27,000 in PACCAR Inc (NASDAQ:PCAR)

New Covenant Trust Company N.A. purchased a new stake in PACCAR Inc (NASDAQ:PCAR) in the first quarter, Holdings Channel.com reports. The fund purchased 217 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. State Board of Administration of Florida Retirement System increased its position in shares of PACCAR by 4.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after purchasing an additional 27,963 shares during the last quarter. abrdn plc increased its position in shares of PACCAR by 50.9% during the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after purchasing an additional 89,359 shares during the last quarter. California State Teachers Retirement System increased its position in shares of PACCAR by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after purchasing an additional 9,978 shares during the last quarter. Nilsine Partners LLC purchased a new stake in shares of PACCAR during the 4th quarter valued at $1,337,000. Finally, Advisory Services Network LLC increased its position in shares of PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after purchasing an additional 7,678 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR traded down $1.94 during trading hours on Friday, reaching $94.36. 4,072,593 shares of the company’s stock traded hands, compared to its average volume of 2,657,096. The stock has a market cap of $49.46 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. The company has a current ratio of 1.81, a quick ratio of 1.43 and a debt-to-equity ratio of 0.54. The firm’s 50 day simple moving average is $104.57 and its 200-day simple moving average is $108.60. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly 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). The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. Equities analysts expect that PACCAR Inc will post 8.11 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PCAR shares. Citigroup started coverage on PACCAR in a research report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 target price for the company. Raymond James assumed coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. The Goldman Sachs Group increased their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft cut their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $114.27.

Insider Activity

In related news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,874 shares of company stock worth $7,526,457. 2.02% of the stock is currently owned by insiders.

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.