PACCAR Inc (NASDAQ:PCAR) Shares Bought by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 81.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,761 shares of the company’s stock after buying an additional 3,930 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in PACCAR were worth $865,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quarry LP purchased a new stake in PACCAR in the 2nd quarter worth $26,000. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR during the first quarter worth about $27,000. Meeder Asset Management Inc. increased its stake in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR during the 2nd quarter worth about $36,000. Finally, Fortitude Family Office LLC lifted its stake in PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after buying an additional 244 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Up 0.6 %

PCAR opened at $114.75 on Friday. The stock has a market capitalization of $60.16 billion, a PE ratio of 12.82, a P/E/G ratio of 1.79 and a beta of 0.89. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The business’s 50 day moving average price is $105.77 and its 200 day moving average price is $103.02.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 EPS. As a group, equities research analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Analysts Set New Price Targets

Several research firms have commented on PCAR. Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $117.64.

Insider Activity

In other news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction 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 completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Company 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.