PACCAR Inc (NASDAQ:PCAR) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 83.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,273 shares of the company's stock after selling 16,698 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in PACCAR were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCAR. Quarry LP purchased a new position in PACCAR during the second quarter worth about $26,000. Meeder Asset Management Inc. boosted its position in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock worth $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR in the 2nd quarter valued at approximately $36,000. Fortitude Family Office LLC increased its holdings in PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company's stock valued at $38,000 after purchasing an additional 244 shares during the last quarter. Finally, ORG Partners LLC raised its position in PACCAR by 7,560.0% in the second quarter. ORG Partners LLC now owns 383 shares of the company's stock valued at $39,000 after purchasing an additional 378 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PCAR. Citigroup raised their price target on PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Morgan Stanley lowered their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Truist Financial boosted their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised shares of PACCAR from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, PACCAR currently has an average rating of "Hold" and an average target price of $117.64.

PACCAR Stock Up 0.7 %

Shares of PCAR traded up $0.82 during mid-day trading on Friday, reaching $117.00. The company's stock had a trading volume of 1,069,530 shares, compared to its average volume of 2,259,252. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The stock has a market cap of $61.34 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The company's 50 day moving average is $107.64 and its 200 day moving average is $103.28.

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

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.03%. PACCAR's dividend payout ratio is presently 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.