Intech Investment Management LLC Buys 11,917 Shares of PACCAR Inc. $PCAR

Intech Investment Management LLC grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 81.8% in the third quarter, HoldingsChannel.com reports. The firm owned 26,485 shares of the company’s stock after buying an additional 11,917 shares during the quarter. Intech Investment Management LLC’s holdings in PACCAR were worth $2,604,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PCAR. Mufg Securities Americas Inc. grew its holdings in PACCAR by 21.7% in the 3rd quarter. Mufg Securities Americas Inc. now owns 14,160 shares of the company’s stock worth $1,392,000 after acquiring an additional 2,526 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of PACCAR during the third quarter worth about $582,000. Compound Planning Inc. grew its stake in shares of PACCAR by 24.3% in the third quarter. Compound Planning Inc. now owns 6,264 shares of the company’s stock worth $616,000 after purchasing an additional 1,225 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in PACCAR by 5.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,295 shares of the company’s stock valued at $226,000 after purchasing an additional 122 shares during the period. Finally, Avalon Trust Co raised its position in PACCAR by 77.1% during the 3rd quarter. Avalon Trust Co now owns 1,550 shares of the company’s stock valued at $152,000 after purchasing an additional 675 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of PCAR stock opened at $121.18 on Wednesday. The company’s fifty day moving average price is $121.37 and its 200-day moving average price is $108.16. The stock has a market cap of $63.73 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.04 and a beta of 1.03. 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 12 month low of $84.65 and a 12 month high of $131.88.

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

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.27%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $119.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Truist Financial lifted their price target on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $116.50.

Insider Activity

In other news, CFO Brice J. Poplawski sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the sale, the chief financial officer directly 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 the SEC website. Also, EVP Kevin D. Baney sold 9,672 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the sale, the executive vice president owned 12,592 shares in the company, valued at $1,593,265.76. The trade was a 43.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is currently owned by insiders.

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.