Entropy Technologies LP Takes Position in PACCAR Inc. $PCAR

Entropy Technologies LP purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 38,482 shares of the company’s stock, valued at approximately $3,658,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FORA Capital LLC acquired a new stake in shares of PACCAR in the 1st quarter valued at about $597,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in PACCAR by 77.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock valued at $22,631,000 after buying an additional 103,664 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of PACCAR by 46.0% in the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after acquiring an additional 88,551 shares during the period. Jump Financial LLC grew its position in shares of PACCAR by 757.1% during the first quarter. Jump Financial LLC now owns 55,263 shares of the company’s stock worth $5,381,000 after acquiring an additional 48,815 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of PACCAR by 177.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock valued at $255,187,000 after acquiring an additional 1,677,736 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent research reports. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. UBS Group set a $103.00 target price on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen downgraded PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, JPMorgan Chase & Co. increased their price objective on PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $106.54.

PACCAR Stock Up 1.2%

PCAR opened at $97.60 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The business has a 50 day simple moving average of $98.00 and a 200-day simple moving average of $96.82. The stock has a market capitalization of $51.26 billion, a P/E ratio of 19.10, a P/E/G ratio of 4.11 and a beta of 0.95. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. On average, equities analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR’s payout ratio is currently 25.83%.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

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.