UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 132,469 Shares of PACCAR Inc (NASDAQ:PCAR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,490,375 shares of the company's stock after selling 132,469 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.47% of PACCAR worth $245,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of PCAR. Massachusetts Financial Services Co. MA increased its position in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the period. Renaissance Technologies LLC bought a new stake in PACCAR during the second quarter worth about $88,437,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in PACCAR by 115.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company's stock worth $106,047,000 after acquiring an additional 576,532 shares in the last quarter. Squarepoint Ops LLC boosted its stake in PACCAR by 3,019.7% during the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company's stock worth $45,558,000 after acquiring an additional 428,378 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in PACCAR during the second quarter worth about $39,238,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR stock traded up $0.82 during midday trading on Friday, reaching $117.00. 1,069,530 shares of the company's stock traded hands, compared to its average volume of 2,605,578. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a market cap of $61.34 billion, a P/E ratio of 13.07, a PEG ratio of 1.82 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. The stock's 50-day moving average is $107.64 and its 200 day moving average is $103.35.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating 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 business had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $7.66 billion. During the same period in the prior year, the company earned $2.34 earnings per share. The firm's revenue was down 5.2% on a year-over-year basis. As a group, analysts anticipate that PACCAR Inc will post 7.98 EPS 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 paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. PACCAR's dividend payout ratio (DPR) is presently 13.41%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the company's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now owns 3,061 shares of the company's stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last three months. Corporate insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCAR. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Citigroup upped their target price 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 upped their target price 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. Finally, Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PACCAR has a consensus rating of "Hold" and an average price target 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.