Versor Investments LP Reduces Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Versor Investments LP lessened its position in shares of PACCAR Inc (NASDAQ:PCAR) by 63.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,616 shares of the company’s stock after selling 6,384 shares during the quarter. Versor Investments LP’s holdings in PACCAR were worth $357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in PACCAR in the 1st quarter valued at about $27,000. Quarry LP purchased a new position in PACCAR in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its holdings in PACCAR by 269.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR in the 2nd quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC raised its position in shares of PACCAR by 200.0% in the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 2.4 %

Shares of PACCAR stock opened at $112.26 on Friday. The stock has a 50-day moving average price of $103.65 and a 200 day moving average price of $102.83. The company has a market cap of $58.86 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.83 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly 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 period last year, the business earned $2.34 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, analysts expect that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 13.41%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PCAR shares. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Citigroup raised their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Truist Financial raised their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $116.55.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the 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 of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last three months. Corporate insiders own 2.02% of the company’s stock.

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.