Caprock Group LLC Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

Caprock Group LLC lifted its holdings in PACCAR Inc (NASDAQ:PCAR) by 18.4% in the third quarter, HoldingsChannel.com reports. The fund owned 24,728 shares of the company’s stock after buying an additional 3,835 shares during the quarter. Caprock Group LLC’s holdings in PACCAR were worth $2,440,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. BDF Gestion purchased a new stake in PACCAR in the 2nd quarter worth $2,862,000. Mengis Capital Management Inc. lifted its position in shares of PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after buying an additional 5,433 shares in the last quarter. Virtu Financial LLC bought a new position in PACCAR during the first quarter valued at approximately $1,359,000. Comerica Bank increased its stake in PACCAR by 8.7% in the 1st quarter. Comerica Bank now owns 162,864 shares of the company’s stock worth $20,177,000 after acquiring an additional 13,075 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of PACCAR by 28.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after acquiring an additional 5,437 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated 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 directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last three months. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $110.38 on Wednesday. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The business’s fifty day simple moving average is $104.69 and its 200-day simple moving average is $102.85. 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 company has a market cap of $57.87 billion, a PE ratio of 12.33, a PEG ratio of 1.76 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. Analysts expect that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

Analyst Ratings Changes

PCAR has been the subject of a number of recent research reports. Citigroup raised their target price on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley cut their target price 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial lifted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $116.55.

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.