PACCAR Inc (NASDAQ:PCAR) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 23.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 863,184 shares of the company’s stock after acquiring an additional 163,192 shares during the quarter. Natixis Advisors LLC’s holdings in PACCAR were worth $85,179,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PCAR. Quarry LP acquired a new position in PACCAR during the 2nd quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR during the first quarter worth $27,000. Meeder Asset Management Inc. boosted its stake in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR in the second quarter valued at $36,000. Finally, Fortitude Family Office LLC grew its holdings in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 2.4 %

PACCAR stock opened at $112.26 on Friday. The firm has a 50-day moving average price of $104.03 and a two-hundred day moving average price of $102.80. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The firm has a market capitalization of $58.86 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.76 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. Sell-side analysts expect that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The business 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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

Insider Activity at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PCAR. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $99.00 to $129.00 in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley reduced their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $116.55.

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.