LGT Capital Partners LTD. Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

LGT Capital Partners LTD. raised its stake in PACCAR Inc (NASDAQ:PCAR) by 32.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 574,965 shares of the company’s stock after purchasing an additional 139,270 shares during the period. PACCAR accounts for approximately 2.0% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 19th largest holding. LGT Capital Partners LTD. owned about 0.11% of PACCAR worth $56,738,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. BDF Gestion bought a new position in shares of PACCAR during the 2nd quarter worth approximately $2,862,000. Mengis Capital Management Inc. increased its position in shares of PACCAR by 2.9% during the third 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of PACCAR during the 1st quarter valued at $1,359,000. Comerica Bank boosted its position in shares of PACCAR by 8.7% in the 1st quarter. Comerica Bank now owns 162,864 shares of the company’s stock worth $20,177,000 after purchasing an additional 13,075 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in PACCAR by 28.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after buying an additional 5,437 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction that occurred on 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 owns 7,121 shares of the company’s stock, valued at $761,947. This trade represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PCAR. JPMorgan Chase & Co. decreased their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Truist Financial boosted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $116.55.

PACCAR Stock Down 0.3 %

NASDAQ:PCAR opened at $111.88 on Tuesday. 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 company’s fifty day moving average price is $104.37 and its 200-day moving average price is $102.81. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a market capitalization of $58.66 billion, a P/E ratio of 12.50, a PEG ratio of 1.76 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping 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 return on equity of 27.24% and a net margin of 13.51%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the firm 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 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 of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.07%. PACCAR’s dividend payout ratio is presently 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.