Heritage Trust Co Invests $2.56 Million in PACCAR Inc (NASDAQ:PCAR)

Heritage Trust Co acquired a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,602 shares of the company's stock, valued at approximately $2,559,000.

A number of other institutional investors also recently bought and sold shares of the stock. Madrona Financial Services LLC increased its stake in shares of PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock valued at $837,000 after buying an additional 91 shares during the period. Global Financial Private Client LLC increased its position in PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after purchasing an additional 97 shares during the period. PDS Planning Inc raised its holdings in shares of PACCAR by 3.7% in the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company's stock valued at $292,000 after purchasing an additional 101 shares in the last quarter. Valley National Advisers Inc. lifted its position in shares of PACCAR by 0.6% in the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after purchasing an additional 106 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of PACCAR by 14.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock valued at $88,000 after purchasing an additional 107 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last three months. Company insiders own 2.02% of the company's stock.

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Analysts Set New Price Targets

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday. Truist Financial reduced their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Finally, UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and cut their price target for the stock from $108.00 to $78.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.13.

PACCAR Stock Performance

NASDAQ PCAR traded down $0.73 on Tuesday, reaching $88.82. 2,517,715 shares of the company's stock traded hands, compared to its average volume of 2,743,809. The stock has a 50 day moving average price of $100.57 and a 200-day moving average price of $106.15. The firm has a market cap of $46.62 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 2.77 and a beta of 0.96. 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 fifty-two week low of $85.10 and a fifty-two week high of $121.75.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This is a boost from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.49%. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

PACCAR Company 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.