BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 88,784 Shares of PACCAR Inc (NASDAQ:PCAR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 797,521 shares of the company’s stock after purchasing an additional 88,784 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.15% of PACCAR worth $78,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after acquiring an additional 171,317 shares during the period. Legal & General Group Plc boosted its stake in PACCAR by 5.9% during the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after buying an additional 242,435 shares during the period. Principal Financial Group Inc. lifted its stake in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. National Pension Service lifted its stake in shares of PACCAR by 4.3% during the 3rd quarter. National Pension Service now owns 1,639,539 shares of the company’s stock worth $161,790,000 after acquiring an additional 68,064 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of PACCAR by 0.3% during the third quarter. Swiss National Bank now owns 1,555,625 shares of the company’s stock valued at $153,509,000 after purchasing an additional 4,100 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred 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 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. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

NASDAQ:PCAR opened at $114.08 on Friday. The stock has a market capitalization of $59.81 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $105.38 and its 200-day moving average price is $102.98.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping 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 business 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 company posted $2.34 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 annualized dividend and a dividend yield of 1.05%. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Truist Financial raised their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Finally, Citigroup increased their price objective on PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.64.

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.