PACCAR Inc (NASDAQ:PCAR) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC boosted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,398 shares of the company's stock after acquiring an additional 20,469 shares during the quarter. HighTower Advisors LLC's holdings in PACCAR were worth $22,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of PACCAR in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its holdings in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock valued at $29,000 after buying an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of PACCAR in the 2nd quarter valued at approximately $36,000. ORG Partners LLC lifted its holdings in shares of PACCAR by 7,560.0% in the 2nd quarter. ORG Partners LLC now owns 383 shares of the company's stock valued at $39,000 after buying an additional 378 shares during the period. Finally, Grove Bank & Trust lifted its holdings in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $46,000 after buying an additional 103 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction 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 owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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. The trade was 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 valued at $6,358,552 over the last quarter. Company insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley reduced their price target on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Friday. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Truist Financial raised their price objective on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Finally, Citigroup raised their price objective on PACCAR from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. Nine 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 data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $117.83.

PACCAR Trading Down 1.5 %

Shares of NASDAQ:PCAR traded down $1.74 during midday trading on Friday, reaching $115.88. The company's stock had a trading volume of 1,916,392 shares, compared to its average volume of 2,590,653. The firm has a market cap of $60.76 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.83 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. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business has a 50 day moving average price of $109.14 and a 200 day moving average price of $103.63.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced 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. The business had revenue of $8.24 billion during 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 business's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 earnings per share. Research analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR's dividend payout ratio is currently 13.41%.

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.