14,252 Shares in PACCAR Inc. $PCAR Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired 14,252 shares of PACCAR Inc. ($PCAR), valued at approximately $1.39 million, during the first quarter.
• Several analysts have upgraded PACCAR's stock ratings, with UBS raising the price target to $100 and Argus setting a target of $121.
• PACCAR announced a quarterly dividend of $0.33 per share, to be paid on December 3rd, which indicates an annualized dividend yield of around 1.4%.

Caxton Associates LLP bought a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,252 shares of the company's stock, valued at approximately $1,388,000.

A number of other large investors have also modified their holdings of PCAR. Brighton Jones LLC grew its stake in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after purchasing an additional 290 shares in the last quarter. Cetera Investment Advisers raised its holdings in PACCAR by 20.2% during the fourth quarter. Cetera Investment Advisers now owns 44,075 shares of the company's stock worth $4,585,000 after purchasing an additional 7,420 shares in the last quarter. CoreCap Advisors LLC increased its holdings in PACCAR by 112.3% in the fourth quarter. CoreCap Advisors LLC now owns 998 shares of the company's stock valued at $104,000 after buying an additional 528 shares in the last quarter. Focus Partners Wealth increased its holdings in PACCAR by 11.8% in the fourth quarter. Focus Partners Wealth now owns 11,792 shares of the company's stock valued at $1,227,000 after buying an additional 1,240 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of PACCAR by 1.8% during the 4th quarter. Janus Henderson Group PLC now owns 66,713 shares of the company's stock worth $6,938,000 after purchasing an additional 1,202 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, Truist Financial reduced their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of "Moderate Buy" and an average target price of $107.68.

PACCAR Stock Performance

NASDAQ:PCAR traded up $0.75 during midday trading on Friday, reaching $102.51. The stock had a trading volume of 3,812,113 shares, compared to its average volume of 1,994,338. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The firm's fifty day simple moving average is $98.48 and its 200-day simple moving average is $96.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The stock has a market capitalization of $53.83 billion, a P/E ratio of 17.55, a PEG ratio of 4.09 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the business posted $2.13 EPS. PACCAR's revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's payout ratio is 22.60%.

About PACCAR

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.