Regents Gate Capital LLP Takes $1.33 Million Position in PACCAR Inc. $PCAR

Regents Gate Capital LLP bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,555 shares of the company’s stock, valued at approximately $1,333,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 111 Capital acquired a new stake in shares of PACCAR in the 3rd quarter worth about $307,000. Elo Mutual Pension Insurance Co boosted its stake in PACCAR by 23.7% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 76,777 shares of the company’s stock valued at $7,549,000 after purchasing an additional 14,727 shares during the period. Smart Money Group LLC grew its position in PACCAR by 4.9% in the 3rd quarter. Smart Money Group LLC now owns 10,358 shares of the company’s stock worth $1,018,000 after purchasing an additional 481 shares during the last quarter. Journey Strategic Wealth LLC increased its stake in shares of PACCAR by 5.5% in the third quarter. Journey Strategic Wealth LLC now owns 6,148 shares of the company’s stock valued at $604,000 after purchasing an additional 321 shares during the period. Finally, APG Asset Management N.V. increased its stake in shares of PACCAR by 11.3% in the third quarter. APG Asset Management N.V. now owns 377,535 shares of the company’s stock valued at $37,119,000 after purchasing an additional 38,235 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares in the company, valued at approximately $768,125.82. The trade was a 66.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin D. Baney sold 9,672 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total value of $1,223,798.16. Following the sale, the executive vice president owned 12,592 shares of the company’s stock, valued at $1,593,265.76. This trade represents a 43.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 133,105 shares of company stock worth $16,869,046. 2.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PCAR shares. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Truist Financial lifted their price objective on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $116.50.

PACCAR Stock Up 1.6%

PCAR opened at $126.09 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The company 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 stock’s fifty day moving average is $120.95 and its 200-day moving average is $107.82. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88.

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

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is 29.27%.

PACCAR Company 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.