DRW Securities LLC Purchases Shares of 6,676 PACCAR Inc (NASDAQ:PCAR)

DRW Securities LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,676 shares of the company’s stock, valued at approximately $659,000.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares during the period. Legal & General Group Plc increased its holdings in shares of PACCAR by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after acquiring an additional 242,435 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after acquiring an additional 178,813 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PCAR. Evercore ISI upgraded 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 report on Wednesday, November 13th. Truist Financial upped their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.64.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 over the last three months. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

NASDAQ:PCAR opened at $115.82 on Wednesday. The company has a market cap of $60.72 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.80 and a beta of 0.89. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock has a fifty day moving average price of $106.55 and a 200-day moving average price of $103.09.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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 net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the prior year, the business posted $2.34 earnings per share. PACCAR’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.04%. PACCAR’s dividend payout ratio is 13.41%.

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.