PACCAR Inc. $PCAR Stock Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its PACCAR stake by 1,547.8% in the third quarter, ending with 48,000 shares valued at approximately $5.27 million. Institutional investors collectively own 64.9% of the company.
• PACCAR reported quarterly revenue of $8.50 billion, up 20.8% year over year and above analyst expectations, while EPS of $1.61 matched consensus estimates.
• The stock had a consensus “Hold” rating from analysts, with an average price target of $132.96. PACCAR also declared a quarterly dividend of $0.35 per share, representing a 1.4% annualized yield.

International Assets Investment Management LLC grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1,547.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,000 shares of the company's stock after purchasing an additional 45,087 shares during the period. International Assets Investment Management LLC's holdings in PACCAR were worth $5,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Soltis Investment Advisors LLC raised its position in shares of PACCAR by 8.4% in the 3rd quarter. Soltis Investment Advisors LLC now owns 5,234 shares of the company's stock worth $575,000 after acquiring an additional 406 shares in the last quarter. Choreo LLC boosted its position in shares of PACCAR by 14.1% during the third quarter. Choreo LLC now owns 16,248 shares of the company's stock valued at $1,784,000 after purchasing an additional 2,012 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of PACCAR by 11.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 17,737 shares of the company's stock valued at $1,983,000 after purchasing an additional 1,890 shares in the last quarter. North Dakota State Investment Board grew its stake in PACCAR by 3.2% in the third quarter. North Dakota State Investment Board now owns 15,822 shares of the company's stock worth $1,737,000 after purchasing an additional 498 shares during the period. Finally, Generali Asset Management SPA SGR grew its stake in PACCAR by 20.7% in the third quarter. Generali Asset Management SPA SGR now owns 42,585 shares of the company's stock worth $4,676,000 after purchasing an additional 7,303 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

PACCAR stock opened at $101.91 on Monday. PACCAR Inc. has a twelve month low of $93.86 and a twelve month high of $139.24. The company has a quick ratio of 2.98, a current ratio of 3.22 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $53.66 billion, a P/E ratio of 19.41, a PEG ratio of 1.31 and a beta of 0.96. The stock's 50 day moving average is $114.82 and its 200 day moving average is $120.15.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $1.61 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.61. PACCAR had a return on equity of 13.76% and a net margin of 9.50%. The business had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $7.48 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm's quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that PACCAR Inc. will post 5.84 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. PACCAR's dividend payout ratio (DPR) is presently 26.67%.

Analysts Set New Price Targets

PCAR has been the subject of several recent research reports. Citigroup lowered their price objective on PACCAR from $140.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, October 12th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $148.00 target price (up from $142.00) on shares of PACCAR in a research report on Wednesday, July 29th. Wells Fargo & Company set a $122.00 target price on shares of PACCAR and gave the stock an "equal weight" rating in a research report on Thursday, October 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PACCAR in a research note on Tuesday, August 18th. Finally, Truist Financial lowered their price target on shares of PACCAR from $125.00 to $124.00 and set a "hold" rating for the company in a research report on Wednesday, October 28th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $132.96.

PACCAR Company Profile

PACCAR Inc NASDAQ: PCAR is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company's operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.

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