Y Intercept Hong Kong Ltd Sells 7,289 Shares of PACCAR Inc (NASDAQ:PCAR)

Y Intercept Hong Kong Ltd decreased its position in PACCAR Inc (NASDAQ:PCAR) by 50.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,191 shares of the company’s stock after selling 7,289 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in PACCAR were worth $710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in PACCAR during the 2nd quarter worth $26,000. Meeder Asset Management Inc. increased its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR during the 2nd quarter worth about $36,000. ORG Partners LLC boosted its stake in PACCAR by 7,560.0% during the 2nd quarter. ORG Partners LLC now owns 383 shares of the company’s stock valued at $39,000 after purchasing an additional 378 shares during the period. Finally, Grove Bank & Trust grew its holdings in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

NASDAQ:PCAR opened at $113.01 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a market cap of $59.25 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company’s 50-day moving average price is $110.95 and its two-hundred day moving average price is $103.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 EPS. On average, equities analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Wall Street Analyst Weigh In

PCAR has been the subject of several research reports. Citigroup increased their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Truist Financial boosted their price target on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Nine research 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 company presently has an average rating of “Hold” and a consensus price target of $118.25.

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.