NBT Bank N A NY Cuts Position in PACCAR Inc (NASDAQ:PCAR)

NBT Bank N A NY lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 11.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,719 shares of the company’s stock after selling 1,093 shares during the quarter. NBT Bank N A NY’s holdings in PACCAR were worth $907,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PCAR. Golden State Wealth Management LLC purchased a new position in PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC purchased a new position in PACCAR during the 4th quarter valued at about $37,000. OFI Invest Asset Management purchased a new position in PACCAR during the 4th quarter valued at about $43,000. Regents Gate Capital LLP purchased a new position in PACCAR during the 4th quarter valued at about $44,000. Finally, Ashton Thomas Securities LLC purchased a new position in PACCAR during the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 over the last ninety days. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR opened at $110.56 on Tuesday. The company’s 50 day simple moving average is $107.41 and its 200 day simple moving average is $106.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a market capitalization of $58.02 billion, a PE ratio of 13.98, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) 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%. As a group, sell-side analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

About PACCAR

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.