Quest Partners LLC Grows Position in PACCAR Inc (NASDAQ:PCAR)

Quest Partners LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 45,433.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,732 shares of the company’s stock after purchasing an additional 2,726 shares during the period. Quest Partners LLC’s holdings in PACCAR were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in PACCAR in the 2nd quarter worth about $88,437,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in PACCAR in the second quarter worth approximately $51,277,000. Squarepoint Ops LLC grew its stake in PACCAR by 3,019.7% in the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock worth $45,558,000 after purchasing an additional 428,378 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in PACCAR during the 2nd quarter worth $39,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in PACCAR by 130.5% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 669,058 shares of the company’s stock valued at $66,023,000 after purchasing an additional 378,810 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCAR has been the topic of several research reports. Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $117.64.

PACCAR Trading Down 0.6 %

PACCAR stock opened at $115.82 on Wednesday. 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 market cap of $60.72 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The stock has a 50-day moving average of $106.55 and a two-hundred day moving average of $103.09. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period last year, the business earned $2.34 EPS. PACCAR’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insiders Place Their Bets

In other PACCAR news, 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 transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at $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.

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.