PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 80.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,987 shares of the company’s stock after buying an additional 23,116 shares during the period. Advisors Asset Management Inc.’s holdings in PACCAR were worth $5,130,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR in the 1st quarter valued at about $27,000. Quarry LP acquired a new position in shares of PACCAR in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR in the 2nd quarter valued at about $36,000. Finally, Fortitude Family Office LLC lifted its stake in shares of PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction 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 $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on 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 owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. 2.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $114.08 on Friday. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. 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 company has a market capitalization of $59.81 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89. The business has a 50 day simple moving average of $105.38 and a 200-day simple moving average of $102.98.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share 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 business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the business earned $2.34 EPS. The business’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 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 dividend on an annualized basis and a yield of 1.05%. PACCAR’s dividend payout ratio is currently 13.41%.

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.