NEOS Investment Management LLC Buys 83,181 Shares of PACCAR Inc. $PCAR

NEOS Investment Management LLC grew its holdings in PACCAR Inc. (NASDAQ:PCAR) by 57.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,710 shares of the company’s stock after purchasing an additional 83,181 shares during the period. NEOS Investment Management LLC’s holdings in PACCAR were worth $22,388,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of PACCAR during the 2nd quarter worth $472,520,000. Pacer Advisors Inc. boosted its holdings in shares of PACCAR by 2,389.2% during the 3rd quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock valued at $197,705,000 after purchasing an additional 1,930,056 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after purchasing an additional 1,165,443 shares during the last quarter. Cullen Capital Management LLC purchased a new stake in shares of PACCAR in the second quarter worth about $53,272,000. Finally, Amundi grew its holdings in shares of PACCAR by 28.0% in the second quarter. Amundi now owns 2,308,750 shares of the company’s stock valued at $229,349,000 after purchasing an additional 505,577 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $127.00 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.70 and a quick ratio of 1.42. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $131.88. The stock’s 50 day simple moving average is $118.44 and its 200-day simple moving average is $106.04. The company has a market cap of $66.70 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period last year, the company earned $1.66 EPS. The company’s quarterly revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be issued 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 yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is presently 29.27%.

Insiders Place Their Bets

In other news, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. The trade was a 69.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 12,592 shares in the company, valued at $1,593,265.76. This represents a 43.44% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 133,105 shares of company stock worth $16,869,046. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of analyst reports. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Truist Financial boosted their price objective on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Citigroup raised their target price on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, PACCAR has an average rating of “Hold” and a consensus target price of $116.50.

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.