DRW Securities LLC Purchases New Shares in PACCAR Inc (NASDAQ:PCAR)

DRW Securities LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,676 shares of the company's stock, valued at approximately $659,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. Massachusetts Financial Services Co. MA grew its position in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after acquiring an additional 3,296,146 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of PACCAR during the 2nd quarter valued at approximately $88,437,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in PACCAR during the 2nd quarter worth approximately $51,277,000. Squarepoint Ops LLC lifted its stake in PACCAR by 3,019.7% in the 2nd quarter. Squarepoint Ops LLC now owns 442,564 shares of the company's stock valued at $45,558,000 after purchasing an additional 428,378 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in PACCAR in the second quarter valued at approximately $39,238,000. Institutional investors own 64.90% of the company's stock.

PACCAR Trading Up 0.3 %

PCAR stock traded up $0.36 during midday trading on Wednesday, hitting $116.18. The stock had a trading volume of 1,685,362 shares, compared to its average volume of 2,608,338. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average price of $106.55 and a two-hundred day moving average price of $103.09. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a market cap of $60.91 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company 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 company earned $2.34 EPS. The firm's revenue for the quarter was down 5.2% compared to the same quarter last year. On average, sell-side analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 dividend yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR's dividend payout ratio (DPR) is 13.41%.

Insider Activity

In other news, VP Todd R. Hubbard sold 3,230 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was 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 owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last quarter. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PCAR shares. Morgan Stanley lowered their price target on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Truist Financial upped 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. JPMorgan Chase & Co. cut their price target on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $117.64.

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.