PACCAR Inc. $PCAR Shares Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 343,106 shares of the company’s stock after acquiring an additional 24,821 shares during the quarter. Brandywine Global Investment Management LLC owned 0.07% of PACCAR worth $32,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCAR. Hazlett Burt & Watson Inc. increased its holdings in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd grew its position in shares of PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares in the last quarter. Accent Capital Management LLC purchased a new stake in shares of PACCAR during the first quarter worth approximately $40,000. Hantz Financial Services Inc. raised its holdings in PACCAR by 43.8% in the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new stake in PACCAR in the second quarter valued at approximately $43,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Up 5.5%

Shares of NASDAQ PCAR opened at $102.99 on Friday. The stock has a market cap of $54.09 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The business has a 50-day moving average price of $98.01 and a 200 day moving average price of $96.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the firm earned $1.85 EPS. The company’s quarterly revenue was down 20.7% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s payout ratio is presently 25.83%.

Analyst Upgrades and Downgrades

Several research firms have commented on PCAR. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Truist Financial increased their target price on PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price target on PACCAR from $103.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley set a $90.00 price target on PACCAR in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PACCAR has a consensus rating of “Hold” and an average target price of $106.54.

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.