Dorsey & Whitney Trust CO LLC Sells 101,949 Shares of PACCAR Inc. $PCAR

Dorsey & Whitney Trust CO LLC lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 220,061 shares of the company’s stock after selling 101,949 shares during the period. PACCAR accounts for approximately 1.3% of Dorsey & Whitney Trust CO LLC’s holdings, making the stock its 13th biggest position. Dorsey & Whitney Trust CO LLC’s holdings in PACCAR were worth $24,099,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new stake in shares of PACCAR during the 4th quarter valued at $27,000. MCF Advisors LLC boosted its stake in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. Elyxium Wealth LLC bought a new position in PACCAR in the 4th quarter worth about $30,000. Wealth Watch Advisors INC bought a new position in PACCAR in the 3rd quarter worth about $32,000. Finally, Camelot Portfolios LLC bought a new position in PACCAR in the 4th quarter worth about $33,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $113.99 on Thursday. The firm’s 50 day moving average price is $117.59 and its 200-day moving average price is $117.37. PACCAR Inc. has a twelve month low of $90.05 and a twelve month high of $131.88. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $59.99 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the business earned $1.46 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. Equities research analysts expect that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.35 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PCAR shares. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Citigroup reiterated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. BNP Paribas Exane started coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Finally, Truist Financial upped their price target on shares of PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.00.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.