PACCAR Inc. $PCAR Shares Purchased by Parallax Volatility Advisers L.P.

Key Points

• Parallax Volatility Advisers L.P. increased its stake in PACCAR Inc. by 112.3%, owning 5,522 shares valued at approximately $538,000 as of its latest SEC filing.
• Multiple other institutional investors have also raised their positions in PACCAR, contributing to a total institutional ownership of 64.90% of the stock.
• PACCAR reported earnings of $1.37 per share for the last quarter, exceeding expectations, despite a year-over-year revenue decline of 15.7%.

Parallax Volatility Advisers L.P. boosted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 112.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,522 shares of the company's stock after buying an additional 2,921 shares during the period. Parallax Volatility Advisers L.P.'s holdings in PACCAR were worth $538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. raised its holdings in PACCAR by 33.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after buying an additional 116 shares during the period. RMR Wealth Builders raised its holdings in PACCAR by 1.4% during the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock valued at $848,000 after buying an additional 122 shares during the period. Applied Capital LLC FL raised its holdings in PACCAR by 0.5% during the 1st quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock valued at $2,455,000 after buying an additional 124 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in PACCAR by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock valued at $4,390,000 after buying an additional 130 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC raised its holdings in PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock valued at $228,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Up 0.7%

Shares of PCAR traded up $0.75 during midday trading on Friday, reaching $102.51. 3,812,113 shares of the stock were exchanged, compared to its average volume of 1,994,338. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The company's 50 day moving average is $98.48 and its two-hundred day moving average is $96.09. The company 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 issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the company earned $2.13 earnings per share. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid 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 dividend payout ratio (DPR) is 22.60%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was 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 in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares in the company, 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. Company insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCAR. Citigroup increased their price target on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Evercore ISI set a $114.00 price objective on PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Truist Financial cut their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.68.

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.