PACCAR Inc (NASDAQ:PCAR) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP lowered its position in PACCAR Inc (NASDAQ:PCAR) by 51.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,021 shares of the company’s stock after selling 25,272 shares during the period. Mount Lucas Management LP’s holdings in PACCAR were worth $2,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital International Investors boosted its position in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares during the last quarter. Renaissance Technologies LLC purchased a new position in PACCAR in the 2nd quarter worth approximately $88,437,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of PACCAR during the 2nd quarter worth approximately $51,277,000. Squarepoint Ops LLC boosted its holdings in shares of PACCAR by 3,019.7% during the 2nd quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock worth $45,558,000 after purchasing an additional 428,378 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of PACCAR in the second quarter valued at approximately $39,238,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 2.4 %

Shares of NASDAQ PCAR opened at $112.26 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $104.03 and its two-hundred day moving average is $102.80. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The firm has a market cap of $58.86 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.76 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the business earned $2.34 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Research analysts predict that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 1.07%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. This represents a 58.15 % decrease in their position. 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 ninety days. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PCAR shares. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the company from $99.00 to $129.00 in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $116.55.

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.