85,551 Shares in PACCAR Inc. $PCAR Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 85,551 shares of the company’s stock, valued at approximately $8,411,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC raised its position in shares of PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 211 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Hantz Financial Services Inc. boosted its position in PACCAR by 43.8% during the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after purchasing an additional 134 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in PACCAR in the second quarter valued at approximately $62,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of PACCAR in the second quarter valued at approximately $71,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR stock opened at $123.26 on Thursday. The firm’s 50-day moving average is $110.31 and its two-hundred day moving average is $102.51. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $123.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91. The company has a market capitalization of $64.74 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 14.74 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the prior year, the business earned $1.85 EPS. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is currently 25.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PCAR shares. Citigroup restated a “neutral” rating and set a $120.00 price objective (up from $113.56) on shares of PACCAR in a research report on Tuesday, January 13th. Truist Financial upped their price target on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Wall Street Zen lowered shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Sanford C. Bernstein reiterated an “outperform” rating and set a $125.00 price objective on shares of PACCAR in a research note on Friday, December 5th. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $112.33.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.02% of the stock is currently owned by company insiders.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.