Orion Portfolio Solutions LLC Buys 16,571 Shares of PACCAR Inc (NASDAQ:PCAR)

Orion Portfolio Solutions LLC grew its stake in PACCAR Inc (NASDAQ:PCAR) by 30.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,443 shares of the company’s stock after purchasing an additional 16,571 shares during the period. Orion Portfolio Solutions LLC’s holdings in PACCAR were worth $7,050,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the period. Renaissance Technologies LLC bought a new position in PACCAR during the second quarter valued at $88,437,000. Erste Asset Management GmbH purchased a new stake in shares of PACCAR in the third quarter valued at $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of PACCAR by 115.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after acquiring an additional 576,532 shares during the period. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction on Monday, October 28th. The shares were 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. The trade was a 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last quarter. 2.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PCAR shares. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Truist Financial raised their price target on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Nine research 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 company has a consensus rating of “Hold” and a consensus target price of $117.83.

PACCAR Stock Down 1.5 %

Shares of PACCAR stock opened at $115.88 on Monday. 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 cap of $60.76 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.82 and a beta of 0.91. The firm’s 50-day moving average is $109.50 and its two-hundred day moving average is $103.66. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company posted $2.34 earnings per share. As a group, research 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 was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was 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.