UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 132,469 Shares of PACCAR Inc (NASDAQ:PCAR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 5.1% in the third quarter, Holdings Channel.com reports. The firm owned 2,490,375 shares of the company’s stock after selling 132,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PACCAR were worth $245,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of PCAR. Massachusetts Financial Services Co. MA boosted its holdings in 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 buying an additional 3,296,146 shares during the period. Renaissance Technologies LLC bought a new position in shares of PACCAR in the second quarter worth $88,437,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of PACCAR by 115.7% in 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 in the last quarter. Squarepoint Ops LLC raised its stake in shares of PACCAR by 3,019.7% during the 2nd quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock valued at $45,558,000 after purchasing an additional 428,378 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in PACCAR during the 2nd quarter worth about $39,238,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.7 %

Shares of PCAR stock opened at $117.00 on Friday. The business has a 50-day moving average price of $107.64 and a two-hundred day moving average price of $103.35. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a market cap of $61.34 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share 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 company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the company posted $2.34 EPS. PACCAR’s quarterly revenue was down 5.2% compared to the same quarter last year. Equities analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

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 paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Activity at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. This represents a 58.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCAR. Citigroup lifted their target price on PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial boosted their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $117.64.

PACCAR Company 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.