Fisher Asset Management LLC Purchases 89,245 Shares of PACCAR Inc (NASDAQ:PCAR)

Fisher Asset Management LLC raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,180,925 shares of the company’s stock after purchasing an additional 89,245 shares during the period. Fisher Asset Management LLC owned 0.99% of PACCAR worth $511,254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCAR. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares in the last quarter. Renaissance Technologies LLC purchased a new position in PACCAR in the second quarter valued at about $88,437,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in PACCAR in the second quarter worth about $51,277,000. Squarepoint Ops LLC lifted its position in shares of PACCAR by 3,019.7% during the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock valued at $45,558,000 after buying an additional 428,378 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of PACCAR in the 2nd quarter worth approximately $39,238,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 0.6 %

PACCAR stock opened at $114.75 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a market cap of $60.16 billion, a PE ratio of 12.82, a P/E/G ratio of 1.80 and a beta of 0.89. The stock’s 50 day simple moving average is $105.77 and its two-hundred day simple moving average is $102.99. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion for 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%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business earned $2.34 earnings per share. Analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. PACCAR’s dividend payout ratio is presently 13.41%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction 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 directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % 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 dated Friday, October 25th. The stock was 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 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Morgan Stanley decreased their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Citigroup upped their price objective on shares of PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Truist Financial lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. 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 data from MarketBeat.com, the company presently has a consensus 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.