Tidal Investments LLC lessened its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 48.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,821 shares of the company's stock after selling 10,234 shares during the quarter. Tidal Investments LLC's holdings in PACCAR were worth $1,068,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in PCAR. Wilmington Savings Fund Society FSB bought a new stake in PACCAR during the 3rd quarter worth about $269,000. World Investment Advisors LLC acquired a new stake in shares of PACCAR in the third quarter valued at about $419,000. Sanctuary Advisors LLC raised its holdings in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock worth $2,962,000 after acquiring an additional 5,871 shares in the last quarter. McIlrath & Eck LLC boosted its position in PACCAR by 16.0% during the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company's stock valued at $2,769,000 after purchasing an additional 3,878 shares during the last quarter. Finally, Hohimer Wealth Management LLC grew its stake in PACCAR by 1.9% in the third quarter. Hohimer Wealth Management LLC now owns 15,853 shares of the company's stock valued at $1,564,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.
Shares of NASDAQ PCAR opened at $107.51 on Friday. 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 firm has a market cap of $56.37 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.77 and a beta of 0.91. The stock's fifty day moving average price is $111.47 and its two-hundred day moving average price is $104.00.
PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.03. The business 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 for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.34 earnings per share. On average, equities analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.
The firm also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a $3.00 dividend. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date of this dividend is Friday, December 20th. PACCAR's payout ratio is presently 13.41%.
In other news, SVP Kevin D. Baney sold 9,894 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 7,121 shares in the company, valued at approximately $761,947. The trade was a 58.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company's stock.
Several equities research analysts have recently commented on PCAR shares. Truist Financial increased their price objective on PACCAR from $107.00 to $110.00 and gave the company a "hold" rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Citigroup boosted their price objective on shares of PACCAR from $120.00 to $125.00 and gave the stock a "neutral" rating in a research note on Monday, December 9th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Finally, Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $118.50.
Get Our Latest Report on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider PACCAR, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PACCAR wasn't on the list.
While PACCAR currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.