PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 81.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,761 shares of the company’s stock after purchasing an additional 3,930 shares during the period. Alpha DNA Investment Management LLC’s holdings in PACCAR were worth $865,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BDF Gestion purchased a new position in PACCAR in the second quarter worth approximately $2,862,000. Mengis Capital Management Inc. lifted its position in shares of PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of PACCAR during the first quarter worth $1,359,000. Comerica Bank increased its holdings in PACCAR by 8.7% in the first quarter. Comerica Bank now owns 162,864 shares of the company’s stock valued at $20,177,000 after buying an additional 13,075 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after buying an additional 5,437 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, PACCAR has an average rating of “Hold” and a consensus price target of $117.64.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares of the company’s stock, valued at $761,947. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 over the last 90 days. 2.02% of the stock is currently owned by insiders.

PACCAR Trading Up 0.6 %

Shares of PACCAR stock opened at $114.75 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The company has a market capitalization of $60.16 billion, a P/E ratio of 12.82, a PEG ratio of 1.79 and a beta of 0.89. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company’s fifty day moving average is $105.77 and its two-hundred day moving average is $103.02.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 27.24% and a net margin of 13.51%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.34 earnings per share. Analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

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.