PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,751 shares of the company’s stock after purchasing an additional 300 shares during the period. Metis Global Partners LLC’s holdings in PACCAR were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after purchasing an additional 171,317 shares in the last quarter. Legal & General Group Plc increased its holdings in PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after buying an additional 242,435 shares in the last quarter. Capital International Investors raised its position in shares of PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares during the period. Principal Financial Group Inc. boosted its stake in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares in the last quarter. Finally, National Pension Service grew its position in shares of PACCAR by 4.3% during the 3rd quarter. National Pension Service now owns 1,639,539 shares of the company’s stock valued at $161,790,000 after acquiring an additional 68,064 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 2.4 %

PCAR stock opened at $112.26 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $104.03 and a two-hundred day moving average of $102.82. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market cap of $58.86 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating 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 business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 earnings per share. As a group, analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. PACCAR’s payout ratio is 13.41%.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of analyst reports. Citigroup upped their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley reduced their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $116.55.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

PACCAR 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.