PACCAR Inc. $PCAR Stake Increased by Inspire Investing LLC

Inspire Investing LLC grew its stake in PACCAR Inc. (NASDAQ:PCAR) by 14.4% in the third quarter, Holdings Channel reports. The fund owned 105,303 shares of the company’s stock after purchasing an additional 13,282 shares during the period. Inspire Investing LLC’s holdings in PACCAR were worth $11,563,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Yousif Capital Management LLC raised its stake in PACCAR by 0.5% during the third quarter. Yousif Capital Management LLC now owns 55,989 shares of the company’s stock worth $6,148,000 after purchasing an additional 253 shares during the period. Root Financial Partners LLC acquired a new position in PACCAR in the 3rd quarter valued at about $154,000. Sowell Financial Services LLC grew its stake in shares of PACCAR by 5.8% in the 3rd quarter. Sowell Financial Services LLC now owns 9,970 shares of the company’s stock valued at $1,095,000 after buying an additional 551 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of PACCAR by 1.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 192,695 shares of the company’s stock valued at $21,160,000 after buying an additional 2,227 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of PACCAR by 34.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 128,742 shares of the company’s stock valued at $14,137,000 after buying an additional 32,839 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 2.4%

NASDAQ PCAR opened at $106.96 on Friday. The firm’s 50-day moving average is $117.32 and its two-hundred day moving average is $120.21. PACCAR Inc. has a 12 month low of $93.86 and a 12 month high of $139.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The stock has a market capitalization of $56.30 billion, a P/E ratio of 22.47, a PEG ratio of 1.26 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the business earned $1.37 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that PACCAR Inc. will post 5.91 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 11th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $164.00 to $142.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Morgan Stanley set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a report on Friday, September 4th. Evercore increased their price objective on PACCAR from $139.00 to $162.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised PACCAR from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $130.00 to $150.00 in a research note on Thursday, September 10th. Finally, BNP Paribas Exane cut their target price on PACCAR from $136.00 to $107.00 and set a “neutral” rating for the company in a research note on Tuesday, October 6th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.88.

Insider Activity at PACCAR

In other PACCAR news, VP William Lance Walters sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at approximately $512,970.90. The trade was a 43.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company’s stock.

PACCAR Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.