Jacobs Levy Equity Management Inc. Has $4.58 Million Position in PACCAR Inc (NASDAQ:PCAR)

Jacobs Levy Equity Management Inc. cut its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 78.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,416 shares of the company's stock after selling 173,987 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in PACCAR were worth $4,580,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of PACCAR by 47.8% during 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 period. Dimensional Fund Advisors LP lifted its holdings in shares of PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company's stock valued at $557,572,000 after acquiring an additional 171,317 shares during the period. Fisher Asset Management LLC boosted its stake in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after purchasing an additional 89,245 shares in the last quarter. Legal & General Group Plc increased its position in shares of PACCAR by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company's stock worth $445,681,000 after purchasing an additional 242,435 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after purchasing an additional 178,813 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PCAR shares. Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. BNP Paribas raised PACCAR to a "hold" rating in a report on Wednesday, October 16th. Truist Financial increased their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. Citigroup boosted their target price on shares of PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $117.83.

Insider Activity

In related news, VP Todd R. Hubbard sold 3,230 shares of the company's stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was 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 owns 7,121 shares in the company, valued at $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

Shares of PCAR stock traded down $1.74 during midday trading on Friday, hitting $115.88. 1,916,392 shares of the company were exchanged, compared to its average volume of 1,958,968. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The firm has a market capitalization of $60.76 billion, a P/E ratio of 12.95, a PEG ratio of 1.86 and a beta of 0.91. The firm's 50 day moving average price is $109.14 and its two-hundred day moving average price is $103.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business's revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, equities research analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.30 per share. 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 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.