Point72 Asset Management L.P. grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 845.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 919,047 shares of the company’s stock after buying an additional 821,847 shares during the period. Point72 Asset Management L.P. owned approximately 0.26% of PACCAR worth $66,484,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of PCAR. IFP Advisors Inc boosted its holdings in shares of PACCAR by 91.1% during the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after buying an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in shares of PACCAR by 18.8% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after buying an additional 300 shares in the last quarter. Sun Life Financial INC lifted its holdings in shares of PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after purchasing an additional 2,585 shares in the last quarter. Institute for Wealth Management LLC. bought a new position in shares of PACCAR in the 2nd quarter worth $201,000. Finally, Cetera Investment Advisers bought a new position in shares of PACCAR in the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 62.36% of the company’s stock.
In related news, VP Alma Lily Ley sold 4,024 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the completion of the sale, the vice president now directly owns 24,319 shares of the company’s stock, valued at approximately $1,726,649. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total value of $7,062,489.72. Following the completion of the sale, the insider now directly owns 2,985,401 shares of the company’s stock, valued at $213,068,069.37. The disclosure for this sale can be found here. Insiders sold a total of 106,598 shares of company stock valued at $7,597,908 over the last three months. 2.64% of the stock is currently owned by insiders.
A number of equities analysts recently issued reports on PCAR shares. Deutsche Bank cut their target price on PACCAR from $78.00 to $77.00 and set a “hold” rating on the stock in a report on Wednesday, October 25th. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, September 5th. J P Morgan Chase & Co upgraded PACCAR from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $83.00 in a report on Wednesday, October 4th. Robert W. Baird reiterated a “hold” rating and issued a $80.00 target price on shares of PACCAR in a report on Thursday, October 12th. Finally, Citigroup increased their target price on PACCAR from $78.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $75.60.
Shares of PACCAR Inc. (PCAR) opened at $71.97 on Monday. The company has a market capitalization of $25,305.39, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.72 and a beta of 1.22. PACCAR Inc. has a 12-month low of $61.93 and a 12-month high of $75.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. PACCAR’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. equities analysts anticipate that PACCAR Inc. will post 4.18 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be given a $1.20 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 13th. PACCAR’s payout ratio is currently 25.64%.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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