Quantinno Capital Management LP Raises Position in PACCAR Inc (NASDAQ:PCAR)

Quantinno Capital Management LP boosted its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 65.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 109,301 shares of the company's stock after buying an additional 43,080 shares during the quarter. Quantinno Capital Management LP's holdings in PACCAR were worth $10,786,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PCAR. Quarry LP bought a new position in shares of PACCAR in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its position in 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 purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in PACCAR in the 2nd quarter valued at $36,000. ORG Partners LLC increased its position in shares of PACCAR by 7,560.0% during the 2nd 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 last quarter. Finally, Grove Bank & Trust raised its stake in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after purchasing an additional 103 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $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 quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company's stock.

PACCAR Price Performance

PCAR stock traded down $1.74 during mid-day trading on Friday, reaching $115.88. 1,916,392 shares of the company traded hands, compared to its average volume of 2,590,654. The company has a fifty day moving average price of $109.14 and a 200-day moving average price of $103.63. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a market capitalization of $60.76 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.83 and a beta of 0.91. 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 (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $7.66 billion. During the same quarter in the previous year, the company earned $2.34 earnings per share. PACCAR's revenue for the quarter was down 5.2% on a year-over-year basis. As a group, analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.04%. PACCAR's payout ratio is currently 13.41%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Citigroup increased their target price on shares of PACCAR from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, November 20th. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PACCAR currently has an average rating of "Hold" and a consensus price target of $117.83.

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.