6,000 Shares in PACCAR Inc (NASDAQ:PCAR) Bought by Aquila Investment Management LLC

Aquila Investment Management LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,000 shares of the company’s stock, valued at approximately $592,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors increased its holdings in PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in PACCAR during the 2nd quarter worth $88,437,000. Dorsey & Whitney Trust CO LLC boosted its position in PACCAR by 3,636.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock valued at $67,696,000 after buying an additional 531,794 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of PACCAR by 24.3% in the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock worth $319,218,000 after acquiring an additional 504,346 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in PACCAR during the 2nd quarter worth approximately $51,277,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Raymond James began coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial reduced their price objective on PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a 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, the stock currently has a consensus rating of “Hold” and an average target price of $114.00.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $104.79 on Wednesday. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. The firm’s 50-day simple moving average is $98.78 and its two-hundred day simple moving average is $103.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The firm has a market cap of $54.93 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.70 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same period last year, the firm earned $2.33 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

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 given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.15%. PACCAR’s payout ratio is 12.71%.

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.