63,596 Shares in PACCAR Inc (NASDAQ:PCAR) Acquired by Isthmus Partners LLC

Isthmus Partners LLC bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 63,596 shares of the company’s stock, valued at approximately $6,276,000.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. Public Sector Pension Investment Board grew its holdings in shares of PACCAR by 13.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company’s stock worth $2,255,000 after acquiring an additional 2,700 shares during the last quarter. Fiduciary Trust Co boosted its position in shares of PACCAR by 33.3% in the third quarter. Fiduciary Trust Co now owns 13,012 shares of the company’s stock worth $1,284,000 after buying an additional 3,250 shares during the period. FORA Capital LLC boosted its position in PACCAR by 92.4% during the third quarter. FORA Capital LLC now owns 75,457 shares of the company’s stock valued at $7,446,000 after purchasing an additional 36,239 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in PACCAR by 115.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after purchasing an additional 576,532 shares during the last quarter. Finally, Insight Wealth Partners LLC lifted its position in shares of PACCAR by 1.4% in the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after buying an additional 104 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

NASDAQ:PCAR opened at $116.18 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock’s 50-day simple moving average is $107.28 and its 200 day simple moving average is $103.28. The company has a market cap of $60.91 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.82 and a beta of 0.89. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter last year, the company posted $2.34 earnings per share. PACCAR’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Announces Dividend

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

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares in the company, valued at $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 over the last quarter. Company insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PCAR shares. JPMorgan Chase & Co. reduced their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Citigroup increased their price objective on PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. 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, PACCAR currently has an average rating of “Hold” and a consensus target price of $117.64.

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.