PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC raised its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 36.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,133 shares of the company’s stock after buying an additional 2,951 shares during the period. Townsquare Capital LLC’s holdings in PACCAR were worth $1,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $1,006,033,000 after buying an additional 3,296,146 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of PACCAR in the 2nd quarter worth approximately $88,437,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of PACCAR in the 2nd quarter worth approximately $51,277,000. Squarepoint Ops LLC lifted its stake in PACCAR by 3,019.7% during the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock valued at $45,558,000 after purchasing an additional 428,378 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in PACCAR in the second quarter worth approximately $39,238,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Down 0.6 %

PCAR opened at $116.24 on Tuesday. The company has a market capitalization of $60.94 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The business has a 50-day moving average of $107.64 and a 200-day moving average of $103.28.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

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 given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PCAR shares. Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Citigroup boosted their price target on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $117.64.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 over the last three months. Corporate insiders own 2.02% of the company’s stock.

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.