Applied Finance Capital Management LLC Acquires 8,288 Shares of PACCAR Inc. $PCAR

Applied Finance Capital Management LLC raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 96.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,860 shares of the company’s stock after buying an additional 8,288 shares during the quarter. Applied Finance Capital Management LLC’s holdings in PACCAR were worth $1,658,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PCAR. JT Stratford LLC bought a new stake in PACCAR in the second quarter valued at $1,301,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of PACCAR by 77.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock valued at $22,631,000 after purchasing an additional 103,664 shares in the last quarter. National Pension Service grew its holdings in shares of PACCAR by 5.5% in the 3rd quarter. National Pension Service now owns 939,146 shares of the company’s stock worth $92,337,000 after purchasing an additional 48,711 shares during the last quarter. AE Wealth Management LLC increased its position in shares of PACCAR by 29.1% during the 3rd quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock worth $3,893,000 after purchasing an additional 8,932 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in PACCAR during the 3rd quarter valued at about $3,817,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other news, VP Paulo Henrique Bolgar sold 12,183 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This represents a 66.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president owned 34,656 shares in the company, valued at $4,433,195.52. This represents a 69.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 130,905 shares of company stock worth $16,582,144. 2.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on PCAR. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Citigroup increased their target price on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Truist Financial lifted their price target on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Finally, Sanford C. Bernstein set a $138.00 price objective on shares of PACCAR and gave the stock an “outperform” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $116.50.

PACCAR Price Performance

PACCAR stock opened at $127.26 on Tuesday. The business’s 50-day simple moving average is $116.59 and its 200 day simple moving average is $105.09. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. The stock has a market cap of $66.84 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 1.07 and a beta of 1.03. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The company’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.66 EPS. As a group, research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s payout ratio is currently 29.27%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.