PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Brooklyn Investment Group

Brooklyn Investment Group grew its position in PACCAR Inc (NASDAQ:PCAR) by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,570 shares of the company’s stock after acquiring an additional 447 shares during the quarter. Brooklyn Investment Group’s holdings in PACCAR were worth $451,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PCAR. D.A. Davidson & CO. lifted its holdings in shares of PACCAR by 0.4% during the third quarter. D.A. Davidson & CO. now owns 163,742 shares of the company’s stock worth $16,158,000 after purchasing an additional 710 shares during the period. Hancock Whitney Corp lifted its holdings in shares of PACCAR by 8.3% during the third quarter. Hancock Whitney Corp now owns 6,304 shares of the company’s stock worth $622,000 after purchasing an additional 483 shares during the period. DRW Securities LLC acquired a new stake in shares of PACCAR during the third quarter worth $659,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of PACCAR by 52.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 24,147 shares of the company’s stock worth $2,383,000 after purchasing an additional 8,287 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings 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 purchasing an additional 89,245 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Down 0.6 %

Shares of PCAR stock opened at $115.82 on Wednesday. The stock has a market cap of $60.72 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.83 and a beta of 0.89. The business has a fifty day simple moving average of $106.55 and a 200-day simple moving average of $103.09. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 EPS. On average, analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Insiders Place Their Bets

In other PACCAR news, 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 sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % 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 valued at $6,358,552. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PCAR shares. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley reduced their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Truist Financial raised their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus target price of $117.64.

About PACCAR

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.