GAMMA Investing LLC Has $698,000 Holdings in PACCAR Inc (NASDAQ:PCAR)

GAMMA Investing LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 32.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,069 shares of the company’s stock after buying an additional 1,747 shares during the quarter. GAMMA Investing LLC’s holdings in PACCAR were worth $698,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after purchasing an additional 171,317 shares during the period. Fisher Asset Management LLC grew its holdings in PACCAR by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after purchasing an additional 83,444 shares during the period. Legal & General Group Plc grew its holdings in PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after purchasing an additional 242,435 shares during the period. Capital International Investors lifted its stake in shares of PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after buying an additional 1,225,468 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of PACCAR by 1.5% in the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after buying an additional 48,784 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $102.80 on Wednesday. The firm has a market cap of $53.88 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The firm’s 50-day simple moving average is $96.03 and its two-hundred day simple moving average is $104.67.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the prior year, the firm posted $2.33 EPS. The business’s revenue was down 2.1% on a year-over-year basis. As a group, equities analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 1.17%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI dropped their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial dropped their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.73.

PACCAR Profile

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.