Quantbot Technologies LP Cuts Holdings in PACCAR Inc (NASDAQ:PCAR)

Quantbot Technologies LP decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,631 shares of the company's stock after selling 5,597 shares during the quarter. Quantbot Technologies LP's holdings in PACCAR were worth $5,391,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PCAR. Quarry LP purchased a new position in shares of PACCAR in the second quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new position in PACCAR in the 1st quarter valued at approximately $27,000. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock worth $29,000 after acquiring an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PACCAR during the second quarter worth $36,000. Finally, Fortitude Family Office LLC raised its stake in shares of PACCAR by 200.0% in the second quarter. Fortitude Family Office LLC now owns 366 shares of the company's stock valued at $38,000 after acquiring an additional 244 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

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

PACCAR Stock Performance

Shares of PACCAR stock traded up $0.36 on Wednesday, hitting $116.18. The stock had a trading volume of 1,685,361 shares, compared to its average volume of 2,612,256. The stock has a market cap of $60.91 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.83 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company's 50 day moving average price is $106.94 and its 200 day moving average price is $103.19.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data 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. 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 firm's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 earnings per share. On average, research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed 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. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR's payout ratio is currently 13.41%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. BNP Paribas upgraded shares of PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Citigroup lifted their price target 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. Truist Financial increased their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of "Hold" and an average target price of $117.64.

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.