Millburn Ridgefield Corp Makes New $172,000 Investment in PACCAR Inc (NASDAQ:PCAR)

Millburn Ridgefield Corp bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the third quarter, HoldingsChannel reports. The institutional investor bought 1,743 shares of the company’s stock, valued at approximately $172,000.

A number of other large investors have also added to or reduced their stakes in PCAR. Security National Bank increased its stake in shares of PACCAR by 4.2% in the second quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after buying an additional 93 shares during the last quarter. Brookstone Capital Management raised its stake in shares of PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after purchasing an additional 94 shares in the last quarter. CVA Family Office LLC grew its stake in PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after purchasing an additional 97 shares in the last quarter. Omnia Family Wealth LLC increased its holdings in PACCAR by 2.5% in the third 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 during the last quarter. Finally, Grove Bank & Trust raised its stake in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 in the last three months. Insiders own 2.02% of the company’s stock.

PACCAR Stock Up 0.5 %

PCAR stock opened at $116.85 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm has a market capitalization of $61.26 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.82 and a beta of 0.91. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company’s 50 day simple moving average is $108.34 and its 200-day simple moving average is $103.43.

PACCAR (NASDAQ:PCAR) last announced its 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 company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. As a group, equities research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is currently 13.41%.

Analyst Ratings Changes

PCAR has been the subject of a number of research analyst reports. BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, Truist Financial increased their target price on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average price target of $117.64.

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.