Trustmark National Bank Trust Department Sells 15,234 Shares of PACCAR Inc (NASDAQ:PCAR)

Trustmark National Bank Trust Department reduced its position in PACCAR Inc (NASDAQ:PCAR) by 88.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,053 shares of the company’s stock after selling 15,234 shares during the quarter. Trustmark National Bank Trust Department’s holdings in PACCAR were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Shell Asset Management Co. purchased a new position in PACCAR in the 1st quarter worth approximately $414,000. CreativeOne Wealth LLC bought a new stake in PACCAR in the 1st quarter valued at $404,000. EP Wealth Advisors LLC increased its holdings in PACCAR by 5.9% in the 1st quarter. EP Wealth Advisors LLC now owns 16,654 shares of the company’s stock valued at $2,063,000 after acquiring an additional 930 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in PACCAR by 43.5% in the 1st quarter. Advisors Asset Management Inc. now owns 16,913 shares of the company’s stock worth $2,095,000 after purchasing an additional 5,129 shares in the last quarter. Finally, Capital International Inc. CA boosted its holdings in shares of PACCAR by 40.2% during the 1st quarter. Capital International Inc. CA now owns 30,337 shares of the company’s stock valued at $3,758,000 after purchasing an additional 8,701 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Morgan Stanley decreased their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, Truist Financial raised their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $117.64.

PACCAR Stock Performance

PACCAR stock opened at $114.08 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The company has a 50 day moving average price of $105.38 and a 200-day moving average price of $102.98. The company has a market capitalization of $59.81 billion, a PE ratio of 12.75, a P/E/G ratio of 1.73 and a beta of 0.89. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the prior year, the company earned $2.34 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $2,814,812.32. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

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.