PACCAR Inc (NASDAQ:PCAR) Stake Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 80.1% in the 3rd quarter, Holdings Channel reports. The fund owned 51,987 shares of the company’s stock after purchasing an additional 23,116 shares during the period. Advisors Asset Management Inc.’s holdings in PACCAR were worth $5,130,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in PACCAR in the 2nd quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new stake in PACCAR in the 1st quarter worth about $27,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PACCAR during the 2nd quarter worth about $36,000. Finally, Fortitude Family Office LLC raised its stake in shares of PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR opened at $114.08 on Friday. The firm has a market capitalization of $59.81 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89. The stock’s 50 day moving average price is $105.38 and its two-hundred day moving average price is $102.98. 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 Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The firm 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%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 EPS. On average, equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PCAR shares. Citigroup raised their price target on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday. Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. cut their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus price target of $117.64.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the sale, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. The trade was a 58.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by corporate insiders.

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.