Hotchkis & Wiley Capital Management LLC Boosts Holdings in PACCAR Inc (NASDAQ:PCAR)

Hotchkis & Wiley Capital Management LLC increased its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 15.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,168,225 shares of the company's stock after acquiring an additional 286,600 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.41% of PACCAR worth $213,960,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PCAR. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 in the last quarter. Renaissance Technologies LLC bought a new position in shares of PACCAR in 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 valued at approximately $63,186,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of PACCAR by 115.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company's stock valued at $106,047,000 after acquiring an additional 576,532 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of PACCAR by 3,019.7% in the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company's stock valued at $45,558,000 after acquiring an additional 428,378 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Truist Financial increased their price objective on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. Finally, Citigroup increased their price objective on PACCAR from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, November 20th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $117.64.

PACCAR Price Performance

Shares of PCAR stock traded up $0.61 on Tuesday, reaching $116.85. The company's stock had a trading volume of 1,862,130 shares, compared to its average volume of 2,598,294. 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 12-month low of $90.04 and a 12-month high of $125.50. The company has a market capitalization of $61.26 billion, a P/E ratio of 13.06, a PEG ratio of 1.82 and a beta of 0.91. The stock's 50 day simple moving average is $107.64 and its 200-day simple moving average is $103.28.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share 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 the consensus estimate of $7.66 billion. During the same quarter last year, the business posted $2.34 earnings per share. The company's revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. PACCAR's payout ratio is 13.41%.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the 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 owns 3,061 shares of the company's stock, valued at $328,353.47. This represents a 51.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares of the company's stock, valued at $761,947. The trade was a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock worth $6,358,552 over the last 90 days. Corporate insiders own 2.02% of the company's stock.

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.