Stifel Financial Corp boosted its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,861 shares of the company's stock after acquiring an additional 12,807 shares during the period. Stifel Financial Corp's holdings in PACCAR were worth $20,906,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. Renaissance Technologies LLC bought a new position in PACCAR during the 2nd quarter worth $88,437,000. Erste Asset Management GmbH acquired a new stake in PACCAR in the third quarter worth $63,186,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in PACCAR by 115.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company's stock valued at $106,047,000 after buying an additional 576,532 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of PACCAR by 3,019.7% during the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company's stock valued at $45,558,000 after acquiring an additional 428,378 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:PCAR opened at $114.83 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $109.82 and a 200-day moving average of $103.70. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The firm has a market cap of $60.21 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. The firm's quarterly revenue was down 5.2% compared to the same quarter last year. Analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR's dividend payout ratio is 13.41%.
In other news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO R Preston Feight sold 27,191 shares of the firm's stock in a transaction on Friday, November 1st. The stock was 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 directly owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % 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 quarter. 2.02% of the stock is owned by company insiders.
PCAR has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Friday. Royal Bank of Canada restated a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Truist Financial lifted their price target on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. Morgan Stanley decreased their price objective on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their target price on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $118.25.
Check Out Our Latest Analysis on PCAR
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.
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