Hotchkis & Wiley Capital Management LLC Buys 286,600 Shares of PACCAR Inc (NASDAQ:PCAR)

Hotchkis & Wiley Capital Management LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 15.2% during the third quarter, Holdings Channel.com reports. The firm owned 2,168,225 shares of the company’s stock after purchasing an additional 286,600 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in PACCAR were worth $213,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP bought a new stake in shares of PACCAR during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. lifted its position in shares of PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR in the 2nd quarter valued at approximately $36,000. Fortitude Family Office LLC grew its holdings in PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock worth $38,000 after acquiring an additional 244 shares during the period. Finally, ORG Partners LLC raised its position in shares of PACCAR by 7,560.0% during the 2nd quarter. ORG Partners LLC now owns 383 shares of the company’s stock worth $39,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $116.24 on Tuesday. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market cap of $60.94 billion, a PE ratio of 12.99, a P/E/G ratio of 1.83 and a beta of 0.91. The company has a fifty day moving average price of $107.64 and a two-hundred day moving average price of $103.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share 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 net margin of 13.51% and a return on equity of 27.24%. During the same period in the previous year, the business earned $2.34 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. Research analysts expect that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is presently 13.41%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Truist Financial lifted their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Citigroup boosted their price target on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $117.64.

Insider Activity at PACCAR

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