PACCAR Inc (NASDAQ:PCAR) Shares Bought by LGT Capital Partners LTD.

LGT Capital Partners LTD. raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 32.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 574,965 shares of the company’s stock after acquiring an additional 139,270 shares during the quarter. PACCAR makes up about 2.0% of LGT Capital Partners LTD.’s holdings, making the stock its 19th largest holding. LGT Capital Partners LTD.’s holdings in PACCAR were worth $56,738,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in PACCAR in the 1st quarter valued at $27,000. Quarry LP purchased a new position in shares of PACCAR in the second quarter worth about $26,000. Meeder Asset Management Inc. boosted its position in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR during the 2nd quarter valued at about $36,000. Finally, Fortitude Family Office LLC raised its holdings in 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 acquiring an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup boosted their target price on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley lowered their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $116.55.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction 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 directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the 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 transaction, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

Shares of PACCAR stock opened at $111.88 on Tuesday. The stock has a market capitalization of $58.66 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The business has a 50-day moving average of $104.37 and a 200 day moving average of $102.81. 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. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period last year, the business posted $2.34 earnings per share. PACCAR’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

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

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.