6,014 PACCAR Inc. $PCAR Shares Purchased by Ashurst Perkins Coie Trust Co

Ashurst Perkins Coie Trust Co lifted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 2,269.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,279 shares of the company’s stock after purchasing an additional 6,014 shares during the period. Ashurst Perkins Coie Trust Co’s holdings in PACCAR were worth $689,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Paladin Partners LLC bought a new position in PACCAR during the 2nd quarter worth $27,000. Fiduciary Financial Advisors bought a new stake in shares of PACCAR in the 2nd quarter valued at about $28,000. Compass Financial Management LLC bought a new stake in shares of PACCAR in the 2nd quarter valued at about $28,000. Steph & Co. acquired a new stake in shares of PACCAR in the first quarter valued at about $29,000. Finally, Continuum Advisory LLC acquired a new stake in shares of PACCAR in the second quarter valued at about $29,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In related news, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. The trade was a 43.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 56,842 shares of company stock valued at $7,565,677 over the last ninety days. Company insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PCAR shares. Sanford C. Bernstein restated an “outperform” rating and set a $148.00 price objective (up from $142.00) on shares of PACCAR in a research report on Wednesday, July 29th. Citigroup dropped their price target on shares of PACCAR from $140.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday. Jefferies Financial Group upped their price objective on shares of PACCAR from $120.00 to $140.00 and gave the company a “hold” rating in a research note on Wednesday, July 29th. Evercore increased their price objective on shares of PACCAR from $139.00 to $162.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $164.00 to $142.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average target price of $131.50.

PACCAR Trading Up 0.5%

NASDAQ PCAR opened at $108.56 on Thursday. The business has a 50 day simple moving average of $120.42 and a 200 day simple moving average of $120.55. PACCAR Inc. has a one year low of $93.19 and a one year high of $139.24. The stock has a market capitalization of $57.14 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.24 and a beta of 0.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 earnings per share. Research analysts expect that PACCAR Inc. will post 5.91 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR’s dividend payout ratio is presently 29.41%.

About PACCAR

PACCAR Inc is a global manufacturer of heavy-duty trucks and related transportation products. The company designs, develops and markets trucks under the Kenworth, Peterbilt and DAF brands, serving the long-haul, construction, vocational and distribution markets.

In addition to complete trucks, PACCAR provides diesel and electric powertrains, engines, parts and related aftermarket services. Its PACCAR Parts business distributes replacement parts and accessories through a network of distribution centers and dealerships, while PACCAR Financial offers retail and wholesale financing and leasing services to customers and dealers.

Founded in 1905, PACCAR has grown from a regional equipment manufacturer into an international transportation company.