Quantbot Technologies LP Cuts Stake in PACCAR Inc (NASDAQ:PCAR)

Quantbot Technologies LP lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 9.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,631 shares of the company’s stock after selling 5,597 shares during the quarter. Quantbot Technologies LP’s holdings in PACCAR were worth $5,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in shares of PACCAR in the first quarter worth about $534,000. Janus Henderson Group PLC increased its position in PACCAR by 0.4% in the first quarter. Janus Henderson Group PLC now owns 68,188 shares of the company’s stock worth $8,445,000 after purchasing an additional 301 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of PACCAR by 19.5% in the 1st quarter. Tidal Investments LLC now owns 21,616 shares of the company’s stock worth $2,678,000 after purchasing an additional 3,526 shares during the period. Comerica Bank lifted its position in PACCAR by 8.7% in the first quarter. Comerica Bank now owns 162,864 shares of the company’s stock worth $20,177,000 after buying an additional 13,075 shares during the last quarter. Finally, WealthPlan Investment Management LLC purchased a new position in PACCAR during the first quarter worth $216,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 0.6 %

NASDAQ PCAR opened at $115.82 on Wednesday. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a 50 day moving average price of $106.55 and a 200 day moving average price of $103.09. 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 firm has a market cap of $60.72 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last issued 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 analyst estimates of $7.66 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid 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 payout ratio is currently 13.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup upped their price objective on PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight 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 has a consensus rating of “Hold” and a consensus price target of $117.64.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was 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 approximately $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is 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.