Heartland Bank & Trust Co Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Heartland Bank & Trust Co lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,784 shares of the company’s stock after selling 241 shares during the quarter. Heartland Bank & Trust Co’s holdings in PACCAR were worth $706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Madrona Financial Services LLC increased its stake in PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after purchasing an additional 91 shares during the period. CVA Family Office LLC grew its holdings in shares of PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after purchasing an additional 97 shares during the last quarter. Global Financial Private Client LLC increased its stake in PACCAR by 1.0% in the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the period. Omnia Family Wealth LLC lifted its holdings in PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after buying an additional 98 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR opened at $109.90 on Monday. The company has a 50 day moving average of $110.55 and a two-hundred day moving average of $104.37. The company has a market cap of $57.62 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is currently 13.41%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and an average target price of $121.23.

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.