Heritage Trust Co Acquires 7,122 Shares of PACCAR Inc. $PCAR

Heritage Trust Co raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,436 shares of the company’s stock after purchasing an additional 7,122 shares during the quarter. Heritage Trust Co’s holdings in PACCAR were worth $6,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in PACCAR during the fourth quarter valued at $27,000. Elyxium Wealth LLC bought a new position in PACCAR during the fourth quarter valued at $30,000. Camelot Portfolios LLC bought a new position in PACCAR during the fourth quarter valued at $33,000. Wealth Watch Advisors INC bought a new position in PACCAR during the third quarter valued at $32,000. Finally, True Wealth Design LLC lifted its position in PACCAR by 61.1% during the fourth quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 138 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 0.8%

PCAR stock opened at $109.47 on Tuesday. The company has a market capitalization of $57.61 billion, a PE ratio of 23.29, a P/E/G ratio of 1.02 and a beta of 0.98. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The firm’s 50-day moving average is $117.27 and its 200 day moving average is $116.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 EPS. On average, research analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

Analyst Upgrades and Downgrades

PCAR has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Citigroup reissued a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, Truist Financial increased their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $122.00.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.