Mediolanum International Funds Ltd Grows Stake in PACCAR Inc (NASDAQ:PCAR)

Mediolanum International Funds Ltd grew its position in PACCAR Inc (NASDAQ:PCAR) by 157.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,280 shares of the company’s stock after purchasing an additional 77,917 shares during the quarter. Mediolanum International Funds Ltd’s holdings in PACCAR were worth $12,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PCAR. Miracle Mile Advisors LLC lifted its stake in shares of PACCAR by 3.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock worth $307,000 after buying an additional 91 shares during the period. Security National Bank lifted its stake in shares of 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 buying an additional 93 shares during the period. Brookstone Capital Management lifted its stake in shares of PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after buying an additional 94 shares during the period. CVA Family Office LLC lifted its stake in shares of PACCAR by 13.3% during the third 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. Finally, Graypoint LLC lifted its stake in shares of PACCAR by 2.9% during the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock worth $441,000 after buying an additional 99 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Truist Financial lifted 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. Evercore ISI decreased their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Citigroup boosted their target price on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $114.18.

PACCAR Trading Up 1.0 %

Shares of PACCAR stock opened at $105.90 on Friday. The firm has a 50-day simple moving average of $99.18 and a two-hundred day simple moving average of $103.42. The company has a market cap of $55.51 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 1.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’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 earnings per share. As a group, equities analysts predict that PACCAR Inc will post 8.07 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.02% of the company’s stock.

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.