Quantbot Technologies LP Reduces Position in PACCAR Inc (NASDAQ:PCAR)

Quantbot Technologies LP reduced its position in PACCAR Inc (NASDAQ:PCAR) by 77.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,412 shares of the company’s stock after selling 42,219 shares during the quarter. Quantbot Technologies LP’s holdings in PACCAR were worth $1,291,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PCAR. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR in the fourth quarter worth approximately $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management bought a new stake in shares of PACCAR during the fourth quarter worth $43,000. Atala Financial Inc purchased a new stake in shares of PACCAR during the fourth quarter valued at $43,000. Finally, Regents Gate Capital LLP bought a new position in shares of PACCAR in the fourth quarter worth about $44,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and lowered their price target for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Finally, Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $118.23.

PACCAR Stock Performance

Shares of PACCAR stock opened at $98.64 on Tuesday. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a market capitalization of $51.77 billion, a PE ratio of 12.47, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a 50-day simple moving average of $106.10 and a two-hundred day simple moving average of $106.60.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 in the last ninety days. 2.02% of the stock is owned by insiders.

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.