PACCAR Inc (NASDAQ:PCAR) Stake Raised by Sandy Spring Bank

Posted by Defense World Staff on Aug 8th, 2023

Sandy Spring Bank raised its position in shares of PACCAR Inc (NASDAQ:PCAR – Free Report) by 52.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779 shares of the company’s stock after purchasing an additional 268 shares during the period. Sandy Spring Bank’s holdings in PACCAR were worth $57,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Claris Advisors LLC MO raised its stake in shares of PACCAR by 47.7% in the 1st quarter. Claris Advisors LLC MO now owns 7,105 shares of the company’s stock valued at $520,000 after acquiring an additional 2,296 shares in the last quarter. Alpha DNA Investment Management LLC grew its holdings in PACCAR by 43.8% in the 1st quarter. Alpha DNA Investment Management LLC now owns 20,196 shares of the company’s stock valued at $1,478,000 after buying an additional 6,149 shares during the last quarter. Bellwether Advisors LLC grew its holdings in PACCAR by 2.5% in the 1st quarter. Bellwether Advisors LLC now owns 8,456 shares of the company’s stock valued at $619,000 after buying an additional 204 shares during the last quarter. Truist Financial Corp grew its holdings in PACCAR by 45.1% in the 1st quarter. Truist Financial Corp now owns 129,611 shares of the company’s stock valued at $9,488,000 after buying an additional 40,275 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. grew its holdings in PACCAR by 61.0% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 33,650 shares of the company’s stock valued at $2,463,000 after buying an additional 12,749 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 56,059 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $86.07, for a total transaction of $4,824,998.13. Following the completion of the transaction, the chief executive officer now directly owns 128,105 shares of the company’s stock, valued at $11,025,997.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO R Preston Feight sold 56,059 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $86.07, for a total transaction of $4,824,998.13. Following the completion of the transaction, the chief executive officer now directly owns 128,105 shares of the company’s stock, valued at $11,025,997.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 24,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $86.07, for a total value of $2,065,680.00. Following the transaction, the chief financial officer now directly owns 93,522 shares of the company’s stock, valued at $8,049,438.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,059 shares of company stock valued at $7,401,818. Company insiders own 2.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PCAR shares. BMO Capital Markets lifted their price objective on PACCAR from $60.00 to $81.50 in a report on Thursday, April 27th. Argus downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. StockNews.com started coverage on PACCAR in a research report on Thursday, May 18th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on PACCAR from $70.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, April 12th. Finally, Raymond James lifted their price objective on PACCAR from $90.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $71.65.

View Our Latest Stock Report on PCAR

PACCAR Stock Up 0.9 %

Shares of PACCAR stock opened at $84.64 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 2.57 and a debt-to-equity ratio of 0.53. PACCAR Inc has a 12 month low of $54.64 and a 12 month high of $90.05. The business has a fifty day simple moving average of $81.32 and a 200 day simple moving average of $72.24. The stock has a market cap of $44.25 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.98 and a beta of 0.96.

PACCAR (NASDAQ:PCAR – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.15. PACCAR had a return on equity of 29.75% and a net margin of 11.20%. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. Research analysts predict that PACCAR Inc will post 8.55 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 17th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.28%. This is a boost from PACCAR’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, August 16th. PACCAR’s payout ratio is presently 14.36%.

About PACCAR

(Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.