NEOS Investment Management LLC Purchases 83,181 Shares of PACCAR Inc. $PCAR

NEOS Investment Management LLC increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 57.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 227,710 shares of the company’s stock after buying an additional 83,181 shares during the quarter. NEOS Investment Management LLC’s holdings in PACCAR were worth $22,388,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Private Wealth Management Group LLC boosted its stake 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 buying an additional 211 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $38,000. Hantz Financial Services Inc. raised its stake in shares of PACCAR by 43.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after purchasing an additional 134 shares in the last quarter. Westside Investment Management Inc. lifted its stake in PACCAR by 100.0% in the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the last quarter. Finally, Rothschild Investment LLC boosted its stake in shares of PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after acquiring an additional 454 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PCAR. Sanford C. Bernstein set a $138.00 price objective on shares of PACCAR and gave the company an “outperform” rating in a report on Wednesday, January 28th. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $116.50.

Insider Activity at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This represents a 69.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brice J. Poplawski sold 2,200 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the transaction, the chief financial officer owned 903 shares of the company’s stock, valued at $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 133,105 shares of company stock valued at $16,869,046 in the last ninety days. Insiders own 2.02% of the company’s stock.

PACCAR Trading Up 1.7%

NASDAQ PCAR opened at $127.00 on Tuesday. The firm has a market capitalization of $66.70 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88. The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $118.44 and its two-hundred day moving average price is $106.04.

PACCAR (NASDAQ:PCAR) last announced 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 net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the business posted $1.66 EPS. PACCAR’s quarterly revenue was down 15.1% on a year-over-year basis. On average, analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The firm 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is 29.27%.

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.