Regents Gate Capital LLP Buys New Holdings in PACCAR Inc. $PCAR

Regents Gate Capital LLP purchased a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,555 shares of the company’s stock, valued at approximately $1,333,000.

A number of other large investors also recently modified their holdings of the company. Private Wealth Management Group LLC grew its holdings in shares of PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. AlphaQuest LLC purchased a new position in PACCAR in the third quarter valued at approximately $38,000. Hantz Financial Services Inc. lifted its position in PACCAR by 43.8% during the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after buying an additional 134 shares in the last quarter. Westside Investment Management Inc. grew its stake in PACCAR by 100.0% during the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the period. Finally, Rothschild Investment LLC increased its position in shares of PACCAR by 121.4% in the third quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after acquiring an additional 454 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Up 1.6%

Shares of NASDAQ PCAR opened at $126.09 on Monday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $131.88. The firm has a market cap of $66.31 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The stock’s 50-day simple moving average is $120.95 and its 200-day simple moving average is $107.82.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the business posted $1.66 earnings per share. PACCAR’s revenue for the quarter was down 15.1% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is presently 29.27%.

Insiders Place Their Bets

In other news, EVP Kevin D. Baney sold 9,672 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the sale, the executive vice president owned 12,592 shares of the company’s stock, valued at approximately $1,593,265.76. The trade was a 43.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 9,258 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the completion of the sale, the chief executive officer owned 258,566 shares in the company, valued at approximately $33,536,010.20. This trade represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent research reports. Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. boosted their price objective on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Finally, Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $116.50.

PACCAR 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.