Quest Partners LLC Grows Position in PACCAR Inc (NASDAQ:PCAR)

Quest Partners LLC grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 45,433.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,732 shares of the company’s stock after buying an additional 2,726 shares during the period. Quest Partners LLC’s holdings in PACCAR were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the 1st quarter valued at about $27,000. Quarry LP purchased a new stake in shares of PACCAR in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. increased its position in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying 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 approximately $36,000. Finally, Fortitude Family Office LLC lifted its position in shares of PACCAR by 200.0% during 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 hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR stock opened at $115.82 on Wednesday. The firm’s 50-day moving average is $106.55 and its two-hundred day moving average is $103.09. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. 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 has a market capitalization of $60.72 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period in the prior year, the business posted $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts predict that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.04%. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Insider Activity at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of PACCAR 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 transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PCAR shares. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Morgan Stanley reduced their target price 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. decreased their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. 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 stock currently has an average rating of “Hold” and an average price target of $117.64.

About PACCAR

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.