PACCAR Inc (NASDAQ:PCAR) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 152,141 shares of the company's stock after acquiring an additional 42,840 shares during the period. Quantinno Capital Management LP's holdings in PACCAR were worth $15,826,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR during the 4th quarter worth about $37,000. Kestra Investment Management LLC purchased a new position in shares of PACCAR during the 4th quarter worth about $37,000. OFI Invest Asset Management purchased a new position in shares of PACCAR during the 4th quarter worth about $43,000. Finally, Atala Financial Inc purchased a new position in shares of PACCAR during the 4th quarter worth about $43,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. Finally, Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $104.14.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pierre R. Breber acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the acquisition, the director now directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

Shares of PCAR traded up $0.29 during trading hours on Monday, hitting $97.00. The stock had a trading volume of 750,522 shares, compared to its average volume of 2,772,577. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a 50-day moving average price of $93.34 and a 200 day moving average price of $103.86. The firm has a market capitalization of $50.92 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $84.65 and a fifty-two week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. PACCAR's quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter last year, the company earned $2.27 earnings per share. As a group, research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.36%. The ex-dividend date is Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

PACCAR Company Profile

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.