TIAA Trust National Association Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

TIAA Trust National Association increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 19.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,479 shares of the company’s stock after buying an additional 558 shares during the quarter. TIAA Trust National Association’s holdings in PACCAR were worth $362,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Madrona Financial Services LLC increased its stake in PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after purchasing an additional 91 shares during the period. Global Financial Private Client LLC increased its position in PACCAR by 1.0% in the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after acquiring an additional 97 shares during the period. PDS Planning Inc raised its stake in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after acquiring an additional 101 shares during the last quarter. Valley National Advisers Inc. raised its stake in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after acquiring an additional 106 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PACCAR by 14.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock worth $88,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 1.3 %

PCAR stock opened at $96.91 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $124.39. The firm has a market capitalization of $50.87 billion, a PE ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. The company’s 50 day simple moving average is $105.19 and its 200-day simple moving average is $106.55.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR’s payout ratio is presently 16.69%.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PCAR. Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. UBS Group cut shares of PACCAR from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Truist Financial boosted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

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.