Mcdaniel Terry & Co. Cuts Stock Holdings in PACCAR Inc. $PCAR

Mcdaniel Terry & Co. decreased its position in PACCAR Inc. (NASDAQ:PCAR) by 0.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,596 shares of the company’s stock after selling 107 shares during the quarter. PACCAR makes up approximately 3.1% of Mcdaniel Terry & Co.’s portfolio, making the stock its 12th largest position. Mcdaniel Terry & Co. owned about 0.08% of PACCAR worth $38,176,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PCAR. Vanguard Group Inc. grew its position in PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock worth $6,133,914,000 after purchasing an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after buying an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock worth $1,144,578,000 after buying an additional 987,805 shares during the last quarter. Northern Trust Corp grew its holdings in shares of PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock valued at $704,956,000 after acquiring an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of PACCAR by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock valued at $594,277,000 after acquiring an additional 97,197 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 0.8%

Shares of PACCAR stock opened at $100.13 on Friday. The stock has a market capitalization of $52.58 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.12 and a beta of 0.94. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 1.82. The stock’s 50-day simple moving average is $98.52 and its 200 day simple moving average is $95.71.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s payout ratio is presently 25.83%.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $90.00 price objective on shares of PACCAR in a research report on Tuesday. Morgan Stanley set a $90.00 price target on shares of PACCAR in a report on Tuesday. Truist Financial increased their price target on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research report on Wednesday, July 23rd. Finally, Zacks Research cut shares of PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.59.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.02% of the company’s stock.

PACCAR Company 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.