Cidel Asset Management Inc. Grows Position in PACCAR Inc. $PCAR

Cidel Asset Management Inc. grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,424 shares of the company’s stock after purchasing an additional 252 shares during the quarter. Cidel Asset Management Inc.’s holdings in PACCAR were worth $325,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after acquiring an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after acquiring an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock valued at $1,144,578,000 after acquiring an additional 987,805 shares in the last quarter. Northern Trust Corp raised its holdings in shares of PACCAR by 0.5% during the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock valued at $704,956,000 after acquiring an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of PACCAR by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock valued at $594,277,000 after acquiring an additional 97,197 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares of the company’s stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

PACCAR Price Performance

PCAR opened at $94.69 on Monday. The stock has a fifty day simple moving average of $98.48 and a two-hundred day simple moving average of $95.43. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The company has a market cap of $49.72 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 3.87 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. Research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is presently 22.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PCAR shares. JPMorgan Chase & Co. upped their target price on PACCAR from $97.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Truist Financial set a $97.00 target price on PACCAR and gave the company a “hold” rating in a report on Wednesday, October 8th. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, July 28th. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Zacks Research downgraded PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.14.

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.