Peak Asset Management LLC Increases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Peak Asset Management LLC boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,976 shares of the company’s stock after purchasing an additional 1,219 shares during the period. PACCAR makes up 2.6% of Peak Asset Management LLC’s holdings, making the stock its 13th biggest holding. Peak Asset Management LLC’s holdings in PACCAR were worth $13,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PCAR. BDF Gestion purchased a new position in PACCAR during the second quarter worth about $2,862,000. Mengis Capital Management Inc. grew its stake in shares of PACCAR by 2.9% in the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after acquiring an additional 5,433 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of PACCAR during the first quarter worth $1,359,000. Comerica Bank raised its stake in shares of PACCAR by 8.7% in the first quarter. Comerica Bank now owns 162,864 shares of the company’s stock valued at $20,177,000 after acquiring an additional 13,075 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after acquiring an additional 5,437 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lowered their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $99.00 to $129.00 in a report on Wednesday. Finally, Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.55.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PACCAR news, 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

PACCAR stock opened at $116.80 on Thursday. The company has a market cap of $61.24 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. PACCAR Inc has a one year low of $88.97 and a one year high of $125.50. The business has a fifty day moving average of $102.77 and a two-hundred day moving average of $102.65. 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 (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter last year, the business earned $2.34 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. 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 payout ratio is currently 13.41%.

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.