PACCAR Inc (NASDAQ:PCAR) Stake Raised by CX Institutional

CX Institutional lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,244 shares of the company’s stock after buying an additional 382 shares during the period. CX Institutional’s holdings in PACCAR were worth $1,110,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its position in shares of PACCAR by 4.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after buying an additional 27,963 shares in the last quarter. BDF Gestion bought a new stake in PACCAR during the second quarter worth approximately $2,862,000. Advisory Services Network LLC lifted its position in PACCAR by 15.9% in the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after purchasing an additional 7,678 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in PACCAR by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after purchasing an additional 105,109 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of PACCAR during the 1st quarter valued at $1,359,000. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Citigroup lifted their price objective on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Truist Financial decreased their price target on shares of PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $114.00.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $107.03 on Thursday. The company’s fifty day moving average is $97.56 and its two-hundred day moving average is $103.92. The company has a market cap of $56.10 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period in the previous year, the firm posted $2.33 earnings per share. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. Equities analysts expect that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

About PACCAR

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.