Fortem Financial Group LLC Acquires Shares of 8,073 PACCAR Inc (NASDAQ:PCAR)

Fortem Financial Group LLC bought a new stake in PACCAR Inc (NASDAQ:PCARFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,073 shares of the company’s stock, valued at approximately $797,000.

A number of other institutional investors also recently made changes to their positions in the business. Mengis Capital Management Inc. raised its holdings in PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after acquiring an additional 5,433 shares in the last quarter. Fisher Asset Management LLC increased its holdings in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in PACCAR by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company’s stock valued at $301,260,000 after buying an additional 47,855 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in PACCAR by 28.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after buying an additional 5,437 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of PACCAR by 2.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 278,304 shares of the company’s stock worth $27,463,000 after acquiring an additional 7,189 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other news, 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 completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR 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 completion of the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. 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 report on Wednesday, October 23rd. Truist Financial increased their price objective 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. Citigroup lifted their target price on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. dropped their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and an average price target of $118.25.

Get Our Latest Report on PCAR

PACCAR Trading Up 0.5 %

PACCAR stock opened at $115.37 on Wednesday. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The stock has a market capitalization of $60.49 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The firm has a 50 day simple moving average of $109.82 and a 200-day simple moving average of $103.70.

PACCAR (NASDAQ:PCARGet Free Report) last issued its quarterly 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. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period last year, the company posted $2.34 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date was Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

PACCAR Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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