Dorsey & Whitney Trust CO LLC Sells 101,949 Shares of PACCAR Inc. $PCAR

Dorsey & Whitney Trust CO LLC decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220,061 shares of the company’s stock after selling 101,949 shares during the period. PACCAR accounts for about 1.3% of Dorsey & Whitney Trust CO LLC’s investment portfolio, making the stock its 13th largest position. Dorsey & Whitney Trust CO LLC’s holdings in PACCAR were worth $24,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. California Public Employees Retirement System grew its holdings in PACCAR by 0.8% during the 3rd quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock valued at $105,725,000 after buying an additional 9,045 shares in the last quarter. Merit Financial Group LLC grew its holdings in PACCAR by 165.8% during the 4th quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after buying an additional 15,169 shares in the last quarter. Nordea Investment Management AB grew its holdings in PACCAR by 12.6% during the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after buying an additional 13,668 shares in the last quarter. Vanguard Group Inc. grew its holdings in PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its holdings in PACCAR by 118.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock valued at $69,943,000 after buying an additional 345,937 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 4.8%

PCAR stock opened at $113.99 on Thursday. The firm has a fifty day moving average price of $117.59 and a 200 day moving average price of $117.37. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The firm has a market cap of $59.99 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the firm posted $1.46 earnings per share. PACCAR’s revenue for the quarter was down 9.8% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. PACCAR’s payout ratio is 29.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PCAR shares. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. BNP Paribas Exane started coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. Finally, Truist Financial increased their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $122.00.

About PACCAR

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.