Quantbot Technologies LP Purchases New Holdings in PACCAR Inc (NASDAQ:PCAR)

Quantbot Technologies LP acquired a new position in PACCAR Inc (NASDAQ:PCAR) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 60,228 shares of the company’s stock, valued at approximately $6,200,000.

A number of other institutional investors and hedge funds have also modified their holdings of PCAR. Miracle Mile Advisors LLC grew its position in PACCAR by 3.8% in the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after acquiring an additional 91 shares during the period. Security National Bank increased its position in shares of PACCAR by 4.2% during the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after purchasing an additional 93 shares in the last quarter. Brookstone Capital Management increased its position in shares of PACCAR by 4.1% during the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares in the last quarter. Morningstar Investment Management LLC boosted its position in PACCAR by 1.3% in the fourth quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after buying an additional 97 shares in the last quarter. Finally, Graypoint LLC grew its stake in PACCAR by 2.9% during the first quarter. Graypoint LLC now owns 3,557 shares of the company’s stock worth $441,000 after buying an additional 99 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

Shares of PACCAR stock opened at $95.12 on Monday. The firm has a fifty day moving average of $97.40 and a two-hundred day moving average of $106.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The stock has a market capitalization of $49.86 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.46 and a beta of 0.91. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50.

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

PACCAR Announces Dividend

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 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction on 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 transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial decreased their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. cut their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Citigroup decreased their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average price target of $112.73.

About PACCAR

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.