Los Angeles Capital Management LLC Has $257,000 Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Los Angeles Capital Management LLC decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 99.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,607 shares of the company’s stock after selling 671,450 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PACCAR were worth $257,000 as of its most recent SEC filing.

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

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated 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 owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

PCAR opened at $111.88 on Tuesday. The stock’s 50 day simple moving average is $104.37 and its 200-day simple moving average is $102.81. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market cap of $58.66 billion, a PE ratio of 12.50, a P/E/G ratio of 1.76 and a beta of 0.89. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 EPS. Sell-side analysts forecast that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is 13.41%.

Analyst Ratings Changes

PCAR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Truist Financial lifted their price objective on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $116.55.

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.