Dynamic Technology Lab Private Ltd Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

Dynamic Technology Lab Private Ltd lowered its position in PACCAR Inc (NASDAQ:PCAR) by 83.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,273 shares of the company’s stock after selling 16,698 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in PACCAR were worth $323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Massachusetts Financial Services Co. MA boosted its holdings in PACCAR by 47.8% in 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 purchasing an additional 3,296,146 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares in the last quarter. Legal & General Group Plc grew its position in shares of PACCAR by 5.9% during the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after buying an additional 242,435 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCAR. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup raised 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. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $117.64.

Insider Activity

In other news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 15.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by company insiders.

PACCAR Trading Up 0.7 %

Shares of PCAR stock opened at $117.00 on Friday. The firm has a market capitalization of $61.34 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The stock has a fifty day moving average of $107.64 and a two-hundred day moving average of $103.31.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 EPS. As a group, research analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

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.