Dorsey & Whitney Trust CO LLC Has $59.23 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Dorsey & Whitney Trust CO LLC reduced its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 67.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 569,439 shares of the company's stock after selling 1,169,645 shares during the quarter. PACCAR comprises about 3.3% of Dorsey & Whitney Trust CO LLC's investment portfolio, making the stock its 3rd biggest position. Dorsey & Whitney Trust CO LLC owned 0.11% of PACCAR worth $59,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the period. Fisher Asset Management LLC lifted its position in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after buying an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. grew its stake in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after buying an additional 1,164,692 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of PACCAR by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock worth $364,690,000 after acquiring an additional 61,457 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

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PACCAR Stock Performance

PCAR traded down $2.39 on Wednesday, hitting $102.33. 2,691,012 shares of the company's stock were exchanged, compared to its average volume of 2,510,132. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $107.42 and a two-hundred day moving average of $106.32. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The firm has a market cap of $53.70 billion, a PE ratio of 12.94, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. On average, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PCAR shares. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Jefferies Financial Group lowered PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI decreased their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $121.77.

Insider Activity

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction that occurred on 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 approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company's stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

PACCAR 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.