Massmutual Trust Co. FSB ADV Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

Massmutual Trust Co. FSB ADV raised its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 11.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,786 shares of the company’s stock after buying an additional 190 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in PACCAR were worth $184,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Blue Trust Inc. boosted its stake in shares of PACCAR by 39.3% in the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after acquiring an additional 127 shares during the period. International Assets Investment Management LLC raised its position in PACCAR by 8,388.6% during the fourth quarter. International Assets Investment Management LLC now owns 376,132 shares of the company’s stock valued at $36,729,000 after purchasing an additional 371,701 shares during the period. Allworth Financial LP grew its stake in shares of PACCAR by 16.1% during the fourth quarter. Allworth Financial LP now owns 1,360 shares of the company’s stock valued at $133,000 after buying an additional 189 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of PACCAR during the fourth quarter valued at approximately $261,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of PACCAR by 6.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 547,275 shares of the company’s stock valued at $53,342,000 after buying an additional 34,341 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 2.6 %

Shares of PCAR traded down $2.43 during midday trading on Monday, hitting $91.93. 4,398,416 shares of the company’s stock traded hands, compared to its average volume of 2,668,790. The stock has a market capitalization of $48.18 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $104.27 and its 200-day moving average is $108.81. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that PACCAR Inc will post 8.11 earnings per share for the current year.

PACCAR Dividend Announcement

The company 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. This represents a $1.20 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, August 15th. PACCAR’s payout ratio is presently 12.45%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Truist Financial dropped their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Citigroup started coverage on PACCAR in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $115.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average price target of $114.27.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,751 shares of company stock valued at $6,567,539. 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.