New England Research & Management Inc. Makes New Investment in PACCAR Inc. $PCAR

New England Research & Management Inc. acquired a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 13,300 shares of the company’s stock, valued at approximately $1,460,000.

Other large investors also recently modified their holdings of the company. Vontobel Holding Ltd. boosted its stake in PACCAR by 6.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 6,197 shares of the company’s stock worth $680,000 after purchasing an additional 377 shares during the period. Mosley Wealth Management grew its stake in shares of PACCAR by 52.2% in the 3rd quarter. Mosley Wealth Management now owns 612 shares of the company’s stock worth $68,000 after buying an additional 210 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of PACCAR by 12.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,861 shares of the company’s stock worth $424,000 after buying an additional 425 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in shares of PACCAR by 59.4% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 3,825 shares of the company’s stock worth $420,000 after buying an additional 1,425 shares during the last quarter. Finally, Ashurst Perkins Coie Trust Co increased its holdings in shares of PACCAR by 2,269.4% in the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 6,279 shares of the company’s stock worth $689,000 after buying an additional 6,014 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company set a $122.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Thursday, October 8th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 price target (up from $142.00) on shares of PACCAR in a research report on Wednesday, July 29th. Truist Financial set a $125.00 price objective on PACCAR and gave the stock a “hold” rating in a research note on Monday, October 5th. Royal Bank Of Canada upgraded PACCAR from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $130.00 to $150.00 in a research report on Thursday, September 10th. Finally, BNP Paribas Exane lowered their price objective on PACCAR from $136.00 to $107.00 and set a “neutral” rating for the company in a research note on Tuesday, October 6th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average target price of $131.50.

PACCAR Trading Up 0.0%

PCAR stock traded up $0.01 during mid-day trading on Friday, reaching $110.82. 2,945,128 shares of the stock traded hands, compared to its average volume of 4,072,521. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. PACCAR Inc. has a one year low of $93.19 and a one year high of $139.24. The stock has a market capitalization of $58.33 billion, a PE ratio of 23.28, a PEG ratio of 1.27 and a beta of 0.98. The business has a 50-day moving average price of $119.55 and a two-hundred day moving average price of $120.47.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter last year, the business earned $1.37 EPS. The business’s revenue was up .5% on a year-over-year basis. Equities research analysts expect that PACCAR Inc. will post 5.91 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.40 annualized dividend and a yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

Insider Activity

In related news, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the transaction, the vice president owned 3,831 shares in the company, valued at $512,970.90. The trade was a 43.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. Insiders sold 56,842 shares of company stock worth $7,565,677 in the last ninety days. 1.99% of the stock is currently owned by company insiders.

About PACCAR

PACCAR Inc is a global manufacturer of heavy-duty trucks and related transportation products. The company designs, develops and markets trucks under the Kenworth, Peterbilt and DAF brands, serving the long-haul, construction, vocational and distribution markets.

In addition to complete trucks, PACCAR provides diesel and electric powertrains, engines, parts and related aftermarket services. Its PACCAR Parts business distributes replacement parts and accessories through a network of distribution centers and dealerships, while PACCAR Financial offers retail and wholesale financing and leasing services to customers and dealers.

Founded in 1905, PACCAR has grown from a regional equipment manufacturer into an international transportation company.