Harvest Fund Management Co. Ltd Buys 8,287 Shares of PACCAR Inc (NASDAQ:PCAR)

Harvest Fund Management Co. Ltd increased its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 52.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,147 shares of the company’s stock after acquiring an additional 8,287 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in PACCAR were worth $2,383,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Security National Bank lifted its stake in PACCAR by 4.2% in the 2nd quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after purchasing an additional 93 shares in the last quarter. Brookstone Capital Management lifted its position in shares of PACCAR by 4.1% in the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after buying an additional 94 shares in the last quarter. CVA Family Office LLC boosted its stake in PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after buying an additional 97 shares during the last quarter. Omnia Family Wealth LLC grew its holdings in PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after buying an additional 98 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Up 0.6 %

PCAR opened at $114.75 on Monday. 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 stock’s 50 day moving average price is $105.77 and its 200-day moving average price is $102.99. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The stock has a market cap of $60.16 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.80 and a beta of 0.89.

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

PACCAR Dividend Announcement

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

Analyst Ratings Changes

PCAR has been the subject of a number of research reports. Truist Financial increased their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Morgan Stanley lowered their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup boosted their target price on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered 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. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $117.64.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The stock was 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 directly owns 3,061 shares of the company’s stock, valued at $328,353.47. The trade was a 51.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the transaction, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. The trade was 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 in the last 90 days. 2.02% of the stock is owned by corporate insiders.

PACCAR Company 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.