DRW Securities LLC Takes $659,000 Position in PACCAR Inc (NASDAQ:PCAR)

DRW Securities LLC bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 6,676 shares of the company’s stock, valued at approximately $659,000.

A number of other institutional investors have also recently added to or reduced their stakes in PCAR. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after buying an additional 171,317 shares during the period. Fisher Asset Management LLC grew its position in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the last quarter. Legal & General Group Plc increased its stake in shares of PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after buying an additional 242,435 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Transactions at PACCAR

In other news, SVP Kevin D. Baney sold 9,894 shares of the 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 completion of the sale, the senior vice president now owns 7,121 shares in the company, valued at $761,947. This represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at approximately $17,782,251.52. This trade represents 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 valued at $6,358,552 over the last three months. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Down 0.6 %

PCAR stock opened at $115.82 on Wednesday. The stock’s 50 day simple moving average is $106.55 and its 200 day simple moving average is $103.09. The company has a market cap of $60.72 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.80 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 fifty-two week low of $90.04 and a fifty-two week high of $125.50.

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

PACCAR Announces Dividend

The firm 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 1.04%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PCAR shares. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their target price for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. 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 research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Finally, Citigroup boosted their price objective on PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.