Quantbot Technologies LP Reduces Stock Holdings in PACCAR Inc. $PCAR

Quantbot Technologies LP lowered its holdings in PACCAR Inc. (NASDAQ:PCAR) by 66.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,557 shares of the company’s stock after selling 103,951 shares during the quarter. Quantbot Technologies LP’s holdings in PACCAR were worth $5,167,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC boosted its holdings in PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after purchasing an additional 105 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of PACCAR by 3.1% in the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock worth $358,000 after buying an additional 108 shares during the last quarter. Intellectus Partners LLC boosted its stake in shares of PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after buying an additional 109 shares during the last quarter. Matrix Trust Co grew its holdings in PACCAR by 3.9% during the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock worth $290,000 after acquiring an additional 110 shares during the period. Finally, Forbes J M & Co. LLP raised its position in PACCAR by 4.3% during the third quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock valued at $262,000 after acquiring an additional 111 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Up 1.6%

Shares of PACCAR stock opened at $126.09 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88. The firm has a market capitalization of $66.31 billion, a PE ratio of 27.96, a P/E/G ratio of 1.06 and a beta of 1.03. The firm’s 50-day moving average price is $120.95 and its 200 day moving average price is $107.77.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.66 earnings per share. On average, sell-side analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio is currently 29.27%.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer owned 903 shares of the company’s stock, valued at $117,760.23. The trade was a 70.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 9,258 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. The trade was a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 133,105 shares of company stock worth $16,869,046 in the last ninety days. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $116.50.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.