CHB Investment Group LLC Makes New Investment in PACCAR Inc (NASDAQ:PCAR)

CHB Investment Group LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,341 shares of the company's stock, valued at approximately $2,402,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital International Investors increased its position in shares of PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company's stock valued at $490,967,000 after purchasing an additional 1,225,468 shares during the period. Renaissance Technologies LLC bought a new stake in PACCAR in the second quarter worth about $88,437,000. Dorsey & Whitney Trust CO LLC lifted its holdings in PACCAR by 3,636.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company's stock valued at $67,696,000 after acquiring an additional 531,794 shares during the last quarter. TD Asset Management Inc boosted its position in shares of PACCAR by 24.3% during the 1st quarter. TD Asset Management Inc now owns 2,576,627 shares of the company's stock valued at $319,218,000 after purchasing an additional 504,346 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of PACCAR in the 2nd quarter worth approximately $51,277,000. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR stock traded up $2.53 during midday trading on Friday, hitting $110.09. The stock had a trading volume of 2,997,486 shares, compared to its average volume of 2,493,526. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $97.84 and a 200 day simple moving average of $103.94. The firm has a market capitalization of $57.71 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.68 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter last year, the company earned $2.33 earnings per share. The business's revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that PACCAR Inc will post 8.06 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR's payout ratio is 12.71%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup upped their target price on PACCAR from $100.00 to $108.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. StockNews.com upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Wednesday, July 24th. BNP Paribas raised PACCAR to a "hold" rating in a research report on Wednesday. Truist Financial reduced their price target on PACCAR from $107.00 to $103.00 and set a "hold" rating for the company in a report on Wednesday, October 9th. Finally, Raymond James initiated coverage on PACCAR in a report on Friday, June 28th. They issued a "market perform" rating on the stock. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $114.00.

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.