Trustmark National Bank Trust Department Trims Stock Position in PACCAR Inc (NASDAQ:PCAR)

Trustmark National Bank Trust Department reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 88.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,053 shares of the company’s stock after selling 15,234 shares during the period. Trustmark National Bank Trust Department’s holdings in PACCAR were worth $203,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of PACCAR in the second quarter valued at about $88,437,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of PACCAR in the second quarter valued at $51,277,000. Squarepoint Ops LLC raised its stake in shares of PACCAR by 3,019.7% during the 2nd quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock worth $45,558,000 after buying an additional 428,378 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of PACCAR in the 2nd quarter worth about $39,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in PACCAR by 130.5% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 669,058 shares of the company’s stock valued at $66,023,000 after acquiring an additional 378,810 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction 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 $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 in the last quarter. 2.02% of the stock is currently owned by company insiders.

PACCAR Trading Up 3.7 %

NASDAQ:PCAR opened at $114.08 on Friday. The company has a market capitalization of $59.81 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.73 and a beta of 0.89. The stock’s 50 day moving average price is $105.38 and its 200 day moving average price is $102.98. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, research analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

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

Analyst Ratings Changes

PCAR has been the topic of a number of recent research reports. Citigroup upped their target price on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price target 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. Truist Financial lifted their target price on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $117.64.

PACCAR 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.