Quantbot Technologies LP Takes $6.20 Million Position in PACCAR Inc (NASDAQ:PCAR)

Quantbot Technologies LP bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 60,228 shares of the company’s stock, valued at approximately $6,200,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in PACCAR in the 4th quarter valued at about $448,288,000. Capital International Investors boosted its holdings in shares of PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. TD Asset Management Inc increased its stake in shares of PACCAR by 112.2% during the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after acquiring an additional 1,095,894 shares during the period. Point72 Asset Management L.P. bought a new stake in PACCAR during the fourth quarter worth approximately $87,441,000. Finally, Epoch Investment Partners Inc. lifted its position in PACCAR by 113.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock worth $103,408,000 after purchasing an additional 562,571 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup decreased their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Truist Financial cut their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $112.73.

PACCAR Stock Performance

PCAR stock opened at $95.12 on Monday. The firm has a 50 day moving average of $97.40 and a two-hundred day moving average of $106.63. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a market capitalization of $49.86 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 1.46 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same period in the prior year, the firm earned $2.33 EPS. PACCAR’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities analysts anticipate that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

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.