Paradiem LLC Raises Stock Holdings in PACCAR Inc. $PCAR

Paradiem LLC lifted its stake in PACCAR Inc. (NASDAQ:PCAR) by 47.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 115,600 shares of the company’s stock after purchasing an additional 37,295 shares during the quarter. PACCAR comprises about 2.7% of Paradiem LLC’s holdings, making the stock its 23rd biggest position. Paradiem LLC’s holdings in PACCAR were worth $11,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Apella Capital LLC raised its stake in PACCAR by 5.6% during the 3rd quarter. Apella Capital LLC now owns 8,213 shares of the company’s stock worth $782,000 after acquiring an additional 435 shares during the period. E. Ohman J or Asset Management AB increased its stake in shares of PACCAR by 8.8% in the third quarter. E. Ohman J or Asset Management AB now owns 23,390 shares of the company’s stock worth $2,300,000 after purchasing an additional 1,900 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of PACCAR by 5.1% in the third quarter. Apollon Wealth Management LLC now owns 18,450 shares of the company’s stock worth $1,814,000 after purchasing an additional 901 shares in the last quarter. Regent Peak Wealth Advisors LLC bought a new stake in shares of PACCAR during the 3rd quarter valued at $253,000. Finally, CWM LLC lifted its stake in shares of PACCAR by 3.0% during the 3rd quarter. CWM LLC now owns 260,977 shares of the company’s stock valued at $25,659,000 after buying an additional 7,604 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

NASDAQ:PCAR opened at $111.79 on Friday. The company has a market cap of $58.71 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 15.29 and a beta of 1.01. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $115.43. The stock’s 50 day simple moving average is $103.92 and its two-hundred day simple moving average is $99.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. The firm’s revenue was down 20.7% compared to the same quarter last year. As a group, equities analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR’s payout ratio is 25.83%.

Analysts Set New Price Targets

A number of research firms have commented on PCAR. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $90.00 target price on PACCAR in a research note on Tuesday, October 21st. Citigroup restated a “neutral” rating and issued a $115.00 price target (up from $105.00) on shares of PACCAR in a research note on Thursday, December 11th. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 price objective on shares of PACCAR in a report on Tuesday, October 21st. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $125.00 target price on shares of PACCAR in a report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average target price of $111.04.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.