Worldquant Millennium Advisors LLC Raises Stake in PACCAR Inc (NASDAQ:PCAR)

Worldquant Millennium Advisors LLC boosted its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 125.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,739 shares of the company's stock after purchasing an additional 42,084 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in PACCAR were worth $7,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Quarry LP acquired a new stake in shares of PACCAR in the second quarter valued at about $26,000. Meeder Asset Management Inc. lifted its stake in PACCAR by 269.7% in 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR during the 2nd quarter worth approximately $36,000. ORG Partners LLC grew its position in shares of 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 in the last quarter. Finally, Grove Bank & Trust grew its position in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $46,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PCAR shares. Citigroup boosted their price objective on PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Truist Financial raised their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $117.83.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR 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 sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the company's 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 owns 105,558 shares of the company's stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. Corporate insiders own 2.02% of the company's stock.

PACCAR Trading Down 1.5 %

Shares of PCAR traded down $1.74 during midday trading on Friday, hitting $115.88. 1,916,392 shares of the stock were exchanged, compared to its average volume of 1,958,968. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The firm has a market cap of $60.76 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.86 and a beta of 0.91. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a fifty day simple moving average of $109.50 and a 200 day simple moving average of $103.69.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter last year, the firm posted $2.34 earnings per share. The business's revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. 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.