PACCAR Inc (NASDAQ:PCAR) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 27.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,785 shares of the company’s stock after selling 1,049 shares during the quarter. OLD National Bancorp IN’s holdings in PACCAR were worth $275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCAR. Riverview Trust Co bought a new stake in shares of PACCAR in the 1st quarter worth about $29,000. Vanguard Capital Wealth Advisors acquired a new stake in PACCAR during the first quarter valued at approximately $213,000. Hennessy Advisors Inc. acquired a new stake in PACCAR during the first quarter valued at approximately $3,605,000. Indiana Trust & Investment Management CO lifted its holdings in PACCAR by 337.9% during the 1st quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock worth $67,000 after buying an additional 419 shares during the last quarter. Finally, OneAscent Wealth Management LLC acquired a new position in shares of PACCAR in the 1st quarter worth approximately $225,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.9 %

PCAR stock opened at $103.80 on Thursday. The firm has a market cap of $54.41 billion, a PE ratio of 11.00, a P/E/G ratio of 1.70 and a beta of 0.91. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The firm has a 50 day simple moving average of $98.98 and a 200 day simple moving average of $103.41.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 EPS. Equities research analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is 12.71%.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Truist Financial raised their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday. Raymond James assumed coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Evercore ISI reduced their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Citigroup raised their target price on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $114.18.

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.