NBT Bank N A NY Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

NBT Bank N A NY lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 11.1% during the fourth quarter, HoldingsChannel reports. The firm owned 8,719 shares of the company’s stock after selling 1,093 shares during the period. NBT Bank N A NY’s holdings in PACCAR were worth $907,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PCAR. Principal Financial Group Inc. raised its stake in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares during the period. Covestor Ltd increased its stake in shares of PACCAR by 24.7% in the third quarter. Covestor Ltd now owns 1,604 shares of the company’s stock worth $158,000 after buying an additional 318 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of PACCAR in the third quarter worth $52,000. Venturi Wealth Management LLC increased its stake in shares of PACCAR by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 5,767 shares of the company’s stock worth $569,000 after buying an additional 1,899 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of PACCAR by 1.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,304,807 shares of the company’s stock worth $128,758,000 after buying an additional 20,155 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PCAR. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.77.

Insider Activity

In related news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of PCAR opened at $110.56 on Tuesday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a market cap of $58.02 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a fifty day moving average of $107.41 and a 200-day moving average of $106.26.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

About PACCAR

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.