Fortem Financial Group LLC Acquires Shares of 8,073 PACCAR Inc (NASDAQ:PCAR)

Fortem Financial Group LLC bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,073 shares of the company’s stock, valued at approximately $797,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of PACCAR in the 2nd quarter worth $26,000. Meeder Asset Management Inc. lifted its position in PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR in the 2nd quarter valued at approximately $36,000. ORG Partners LLC increased its position in PACCAR by 7,560.0% during the 2nd quarter. ORG Partners LLC now owns 383 shares of the company’s stock worth $39,000 after purchasing an additional 378 shares during the period. Finally, Grove Bank & Trust raised its stake in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. 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 owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on PCAR. JPMorgan Chase & Co. decreased their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Citigroup raised their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $118.25.

PACCAR Trading Up 0.5 %

PACCAR stock opened at $115.37 on Wednesday. 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 stock has a market cap of $60.49 billion, a PE ratio of 12.89, a P/E/G ratio of 1.82 and a beta of 0.91. The stock has a 50-day moving average price of $109.82 and a 200 day moving average price of $103.70. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results 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 company 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 business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.34 EPS. Equities research analysts predict 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 was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 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.