First American Trust FSB Raises Position in PACCAR Inc. $PCAR

First American Trust FSB lifted its stake in PACCAR Inc. (NASDAQ:PCAR) by 63.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 57,710 shares of the company’s stock after acquiring an additional 22,366 shares during the quarter. First American Trust FSB’s holdings in PACCAR were worth $6,320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ares Financial Consulting LLC purchased a new stake in shares of PACCAR in the fourth quarter worth about $27,000. MCF Advisors LLC boosted its position in shares of PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of PACCAR in the fourth quarter worth about $30,000. Camelot Portfolios LLC purchased a new stake in shares of PACCAR in the fourth quarter worth about $33,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of PACCAR in the third quarter worth about $32,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 4.8%

Shares of PCAR opened at $113.99 on Thursday. The company has a market capitalization of $59.99 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.11 and a beta of 0.98. PACCAR Inc. has a one year low of $90.05 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The stock has a 50-day moving average price of $117.59 and a 200 day moving average price of $117.37.

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

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 29.79%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PCAR. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. BNP Paribas Exane assumed coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target for the company. JPMorgan Chase & Co. reduced their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, 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.