Susquehanna Fundamental Investments LLC Invests $39.24 Million in PACCAR Inc (NASDAQ:PCAR)

Susquehanna Fundamental Investments LLC bought a new position in PACCAR Inc (NASDAQ:PCAR) during the second quarter, Holdings Channel.com reports. The firm bought 381,171 shares of the company’s stock, valued at approximately $39,238,000. PACCAR makes up about 0.9% of Susquehanna Fundamental Investments LLC’s portfolio, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. YHB Investment Advisors Inc. bought a new stake in shares of PACCAR in the 1st quarter worth approximately $27,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR in the 1st quarter worth approximately $27,000. Riverview Trust Co bought a new stake in shares of PACCAR in the 1st quarter worth approximately $29,000. Meeder Asset Management Inc. raised its holdings in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. Finally, Rise Advisors LLC bought a new stake in shares of PACCAR in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $98.13 on Friday. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The company has a market cap of $51.44 billion, a P/E ratio of 10.18, a PEG ratio of 1.53 and a beta of 0.91. The firm has a 50-day moving average of $96.18 and a 200 day moving average of $105.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the previous year, the company earned $2.33 earnings per share. PACCAR’s quarterly revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is 12.45%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial lowered their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Citigroup lowered their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, PACCAR has an average rating of “Hold” and a consensus price target of $112.73.

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.