Intech Investment Management LLC Sells 35,814 Shares of PACCAR Inc (NASDAQ:PCAR)

Intech Investment Management LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 52.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,795 shares of the company’s stock after selling 35,814 shares during the quarter. Intech Investment Management LLC’s holdings in PACCAR were worth $3,236,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Security National Bank increased its stake in shares of PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after acquiring an additional 93 shares during the last quarter. Brookstone Capital Management increased its stake in PACCAR by 4.1% in the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after purchasing an additional 94 shares in the last quarter. CVA Family Office LLC increased its stake in PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares in the last quarter. Omnia Family Wealth LLC boosted its position in shares of PACCAR by 2.5% during the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after purchasing an additional 98 shares in the last quarter. Finally, Grove Bank & Trust grew its holdings in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds 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 company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 over the last quarter. 2.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PCAR has been the topic of several research analyst reports. Truist Financial raised their price objective on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $117.64.

PACCAR Trading Up 0.6 %

Shares of NASDAQ:PCAR opened at $114.75 on Friday. The company’s 50-day moving average price is $105.77 and its two-hundred day moving average price is $103.02. PACCAR Inc has a one year low of $90.04 and a one 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 stock has a market capitalization of $60.16 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 earnings per share. On average, equities analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

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