Fulton Bank N.A. Buys 167 Shares of PACCAR Inc (NASDAQ:PCAR)

Fulton Bank N.A. boosted its position in PACCAR Inc (NASDAQ:PCAR) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,066 shares of the company’s stock after acquiring an additional 167 shares during the quarter. Fulton Bank N.A.’s holdings in PACCAR were worth $423,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PCAR. Quarry LP bought a new stake in shares of PACCAR during the second quarter worth about $26,000. Meeder Asset Management Inc. boosted its stake in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in PACCAR during the 2nd quarter worth approximately $36,000. Grove Bank & Trust raised its stake in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Finally, Sander Capital Advisors Inc. bought a new position in shares of PACCAR in the third quarter valued at approximately $50,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $106.58 on Friday. The company has a 50 day moving average of $111.26 and a 200 day moving average of $103.83. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market cap of $55.88 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.77 and a beta of 0.93. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. As a group, sell-side analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 14.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PCAR. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Truist Financial increased their target price on shares of PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. dropped their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $118.50.

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.