Fortem Financial Group LLC Purchases Shares of 8,073 PACCAR Inc (NASDAQ:PCAR)

Fortem Financial Group LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,073 shares of the company's stock, valued at approximately $797,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCAR. Wellington Management Group LLP boosted its position in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in PACCAR during the second quarter valued at approximately $88,437,000. Erste Asset Management GmbH bought a new position in shares of PACCAR in the third quarter worth about $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in PACCAR by 115.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company's stock worth $106,047,000 after buying an additional 576,532 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

PACCAR stock traded up $0.48 during mid-day trading on Wednesday, hitting $115.85. 2,218,255 shares of the company's stock traded hands, compared to its average volume of 2,583,089. The company has a market cap of $60.74 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average price of $110.17 and a 200 day moving average price of $103.74. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping 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 firm had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $7.66 billion. During the same quarter last year, the business posted $2.34 EPS. PACCAR's revenue was down 5.2% on a year-over-year basis. On average, equities analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th will be issued a $0.33 dividend. This is a boost from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.14%. PACCAR's dividend payout ratio is 13.41%.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the business's stock in a transaction 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 directly 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. In the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCAR. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. BNP Paribas upgraded shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Truist Financial upped their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on PACCAR from $120.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Evercore ISI upgraded shares of PACCAR from an "in-line" rating to an "outperform" rating and upped their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $118.25.

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.