PACCAR Inc (NASDAQ:PCAR) Stock Position Lessened by STF Management LP

STF Management LP decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,639 shares of the company’s stock after selling 625 shares during the quarter. STF Management LP’s holdings in PACCAR were worth $754,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quarry LP bought a new position in PACCAR during the second quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR during the 1st quarter valued at about $27,000. Meeder Asset Management Inc. grew 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 worth $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of PACCAR in the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC raised its holdings in shares of PACCAR by 200.0% in 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 currently owned by institutional investors and hedge funds.

PACCAR Stock Up 3.7 %

Shares of PACCAR stock opened at $114.08 on Friday. The business has a 50-day moving average of $105.38 and a two-hundred day moving average of $102.98. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. 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 company 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.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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 net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the company earned $2.34 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 1.05%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PCAR shares. Citigroup lifted their price target on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Truist Financial boosted their price objective on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $117.64.

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.