Townsquare Capital LLC Purchases 2,951 Shares of PACCAR Inc (NASDAQ:PCAR)

Townsquare Capital LLC increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 36.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,133 shares of the company’s stock after purchasing an additional 2,951 shares during the period. Townsquare Capital LLC’s holdings in PACCAR were worth $1,099,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Security National Bank lifted its stake in PACCAR by 4.2% during the second quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after purchasing an additional 93 shares during the period. Brookstone Capital Management raised its holdings in shares of PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after buying an additional 94 shares in the last quarter. CVA Family Office LLC lifted its position in shares of PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after buying an additional 97 shares during the period. Omnia Family Wealth LLC boosted its stake in PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after buying an additional 98 shares in the last quarter. Finally, Grove Bank & Trust grew its position in 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 acquiring an additional 103 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PCAR shares. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup upped their price objective 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. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Morgan Stanley decreased their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $117.64.

PACCAR Stock Down 0.6 %

NASDAQ PCAR opened at $116.24 on Tuesday. 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 52 week low of $90.04 and a 52 week high of $125.50. The stock has a market capitalization of $60.94 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The stock has a fifty day moving average of $107.64 and a 200-day moving average of $103.28.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.34 EPS. On average, equities research analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.03%. PACCAR’s dividend payout ratio is currently 13.41%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction dated Monday, October 28th. The stock was 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 approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by insiders.

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.