Isthmus Partners LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 63,596 shares of the company's stock, valued at approximately $6,276,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP bought a new position in PACCAR in the second quarter worth approximately $26,000. Meeder Asset Management Inc. raised its position in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock worth $29,000 after acquiring an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PACCAR during the 2nd quarter worth $36,000. Fortitude Family Office LLC boosted its position in PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company's stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. Finally, ORG Partners LLC grew its stake in PACCAR by 7,560.0% in the second quarter. ORG Partners LLC now owns 383 shares of the company's stock valued at $39,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 64.90% of the company's stock.
Insider Activity at PACCAR
In other news, CFO Harrie Schippers sold 20,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company's stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 in the last three months. Company insiders own 2.02% of the company's stock.
Analysts Set New Price Targets
PCAR has been the subject of several analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Truist Financial raised their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. BNP Paribas raised PACCAR to a "hold" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI upgraded PACCAR from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, PACCAR presently has an average rating of "Hold" and a consensus target price of $117.64.
Get Our Latest Report on PACCAR
PACCAR Stock Performance
NASDAQ PCAR traded up $0.82 on Friday, reaching $117.00. 1,069,530 shares of the company's stock traded hands, compared to its average volume of 2,605,578. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. 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 firm has a market cap of $61.34 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 1.82 and a beta of 0.89. The stock has a 50 day moving average price of $107.64 and a 200-day moving average price of $103.35.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company's revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 earnings per share. Equities research analysts predict 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. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR's dividend payout ratio (DPR) is 13.41%.
PACCAR Company Profile
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Free Report)
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.
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