Heritage Investors Management Corp Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

Heritage Investors Management Corp lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.3% during the third quarter, HoldingsChannel reports. The firm owned 171,589 shares of the company’s stock after selling 437 shares during the period. Heritage Investors Management Corp’s holdings in PACCAR were worth $16,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in shares of PACCAR by 4.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after buying an additional 27,963 shares during the last quarter. BDF Gestion bought a new stake in shares of PACCAR in the second quarter worth $2,862,000. Advisory Services Network LLC increased its stake in shares of PACCAR by 15.9% in the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after buying an additional 7,678 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of PACCAR by 18.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after buying an additional 105,109 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of PACCAR in the first quarter worth $1,359,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last 90 days. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock traded up $1.24 during trading on Tuesday, hitting $106.06. 475,535 shares of the stock were exchanged, compared to its average volume of 2,620,137. The stock’s fifty day moving average is $100.51 and its 200 day moving average is $102.58. The stock has a market cap of $55.61 billion, a PE ratio of 11.78, a P/E/G ratio of 1.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a 12 month low of $85.14 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during 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%. PACCAR’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 EPS. As a group, sell-side analysts anticipate that PACCAR Inc will post 8 EPS for the current year.

PACCAR Dividend Announcement

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 given a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. PACCAR’s dividend payout ratio is presently 13.41%.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research analyst reports. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial lifted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley decreased their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.82.

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.