PACCAR Inc (NASDAQ:PCAR) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 7,540.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 289,034 shares of the company’s stock after acquiring an additional 285,251 shares during the period. International Assets Investment Management LLC owned about 0.06% of PACCAR worth $28,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCAR. Quarry LP acquired a new stake in shares of PACCAR during the 2nd quarter valued at approximately $26,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR during the 1st quarter worth approximately $27,000. Meeder Asset Management Inc. raised its position in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR during the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC raised its position in shares of PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after purchasing an additional 244 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Up 1.1 %

Shares of NASDAQ PCAR opened at $107.07 on Tuesday. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The firm has a fifty day moving average of $99.61 and a 200-day moving average of $103.00. The stock has a market capitalization of $56.13 billion, a PE ratio of 11.96, a P/E/G ratio of 1.65 and a beta of 0.91. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced 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. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the company earned $2.34 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts anticipate that PACCAR Inc will post 8 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Activity

In related news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,958 shares of company stock valued at $6,290,956 in the last ninety days. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PCAR. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI cut their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Truist Financial lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $114.18.

PACCAR Company 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.