FORA Capital LLC Acquires 36,239 Shares of PACCAR Inc (NASDAQ:PCAR)

FORA Capital LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 92.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 75,457 shares of the company’s stock after acquiring an additional 36,239 shares during the period. PACCAR makes up about 0.9% of FORA Capital LLC’s investment portfolio, making the stock its 25th biggest position. FORA Capital LLC’s holdings in PACCAR were worth $7,446,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in PACCAR by 47.8% during the third 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 period. Dimensional Fund Advisors LP raised its holdings in shares of PACCAR by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after buying an additional 171,317 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares during the period. Legal & General Group Plc boosted its stake in PACCAR by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after buying an additional 242,435 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after buying an additional 178,813 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on PCAR. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup raised their price objective on shares of PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Finally, Truist Financial lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $117.64.

PACCAR Trading Up 0.1 %

NASDAQ:PCAR traded up $0.12 during trading hours on Wednesday, hitting $115.94. 104,523 shares of the stock were exchanged, compared to its average volume of 2,605,188. The company has a market capitalization of $60.79 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. 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 company’s 50 day moving average is $106.55 and its two-hundred day moving average is $103.09. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly 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 business had revenue of $8.24 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $2.34 earnings per share. On average, sell-side analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Insider Activity

In other news, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. The trade was a 15.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by insiders.

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.