Peak Asset Management LLC Grows Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Peak Asset Management LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.9% during the third quarter, HoldingsChannel.com reports. The fund owned 138,976 shares of the company’s stock after purchasing an additional 1,219 shares during the quarter. PACCAR makes up about 2.6% of Peak Asset Management LLC’s portfolio, making the stock its 13th biggest holding. Peak Asset Management LLC’s holdings in PACCAR were worth $13,714,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of PACCAR in the 2nd quarter valued at approximately $26,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR in the first quarter worth $27,000. Meeder Asset Management Inc. increased 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 worth $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR in the second quarter valued at $36,000. Finally, Fortitude Family Office LLC boosted its stake 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 acquiring an additional 244 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PCAR. Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $99.00 to $129.00 in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Citigroup raised 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. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $116.55.

PACCAR Trading Up 0.3 %

Shares of PCAR opened at $116.80 on Thursday. The business’s 50-day moving average price is $102.77 and its 200 day moving average price is $102.65. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $61.24 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.83 and a beta of 0.89. PACCAR Inc has a 1-year low of $88.97 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for 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%. PACCAR’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 earnings per share. Analysts expect that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

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 paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Insiders Place Their Bets

In other news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares in the company, valued at $761,947. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated 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 sale, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $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. Insiders sold 60,315 shares of company stock valued at $6,358,552 over the last 90 days. 2.02% of the stock is currently owned by company insiders.

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.