Lecap Asset Management Ltd. Buys New Shares in PACCAR Inc (NASDAQ:PCAR)

Lecap Asset Management Ltd. purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,606 shares of the company's stock, valued at approximately $2,231,000.

A number of other hedge funds have also recently bought and sold shares of PCAR. RFG Advisory LLC increased its holdings in PACCAR by 14.4% during the first quarter. RFG Advisory LLC now owns 3,314 shares of the company's stock worth $411,000 after buying an additional 417 shares during the last quarter. Riverview Trust Co bought a new stake in shares of PACCAR in the 1st quarter valued at about $29,000. Atlas Capital Advisors LLC raised its holdings in shares of PACCAR by 531.9% in the 1st quarter. Atlas Capital Advisors LLC now owns 6,825 shares of the company's stock valued at $846,000 after purchasing an additional 5,745 shares during the period. Vanguard Capital Wealth Advisors acquired a new stake in PACCAR in the 1st quarter valued at about $213,000. Finally, Hennessy Advisors Inc. bought a new position in PACCAR during the first quarter worth about $3,605,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Down 4.4 %

Shares of NASDAQ:PCAR opened at $104.79 on Wednesday. The business's 50 day simple moving average is $98.78 and its 200 day simple moving average is $103.41. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a market capitalization of $54.93 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.70 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR's quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. On average, research analysts anticipate that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR's payout ratio is presently 12.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Wednesday. Raymond James initiated coverage on shares of PACCAR in a research report on Friday, June 28th. They set a "market perform" rating for the company. Citigroup increased their price objective on shares of PACCAR from $100.00 to $108.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of PACCAR from $121.00 to $109.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of "Hold" and a consensus price target of $113.82.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 162,782 shares of the company's stock, valued at $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.02% of the stock is currently owned by insiders.

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.

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