PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Malaga Cove Capital LLC

Malaga Cove Capital LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 55.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,816 shares of the company’s stock after acquiring an additional 1,724 shares during the period. Malaga Cove Capital LLC’s holdings in PACCAR were worth $475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its position in PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after purchasing an additional 27,963 shares in the last quarter. BDF Gestion purchased a new position in PACCAR in the second quarter worth approximately $2,862,000. Advisory Services Network LLC grew its holdings in PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after acquiring an additional 7,678 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of PACCAR by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after purchasing an additional 105,109 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of PACCAR in the 1st quarter valued at $1,359,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

PACCAR Trading Up 7.3 %

NASDAQ PCAR opened at $116.01 on Thursday. PACCAR Inc has a one year low of $85.14 and a one year high of $125.50. The firm has a market cap of $60.82 billion, a PE ratio of 12.96, a P/E/G ratio of 1.64 and a beta of 0.89. The firm’s fifty day moving average is $101.21 and its two-hundred day moving average is $102.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the business earned $2.34 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. Analysts expect that PACCAR Inc will post 8 earnings per share 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 given a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Analyst Ratings Changes

A number of brokerages recently commented on PCAR. 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. Truist Financial increased their price objective on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Evercore ISI decreased their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Citigroup increased their price target on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Nine 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, the stock has an average rating of “Hold” and an average price target of $113.82.

PACCAR 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.