Assenagon Asset Management S.A. Sells 13,221 Shares of PACCAR Inc (NASDAQ:PCAR)

Assenagon Asset Management S.A. trimmed its position in PACCAR Inc (NASDAQ:PCAR) by 10.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 117,260 shares of the company’s stock after selling 13,221 shares during the period. Assenagon Asset Management S.A.’s holdings in PACCAR were worth $11,571,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PCAR. Quarry LP acquired a new stake in shares of PACCAR during the second quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new position in PACCAR in the 1st quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its holdings in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in PACCAR during the 2nd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC grew its holdings in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after acquiring an additional 244 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target 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. Evercore ISI reduced their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their target price 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. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $114.18.

PACCAR Trading Up 1.0 %

PCAR opened at $105.90 on Monday. The company has a fifty day moving average price of $99.39 and a two-hundred day moving average price of $103.09. 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 $55.51 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the business earned $2.34 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts predict that PACCAR Inc will post 8.07 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 12.45%.

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.