Quantbot Technologies LP Sells 103,951 Shares of PACCAR Inc. $PCAR

Quantbot Technologies LP trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 66.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,557 shares of the company’s stock after selling 103,951 shares during the period. Quantbot Technologies LP’s holdings in PACCAR were worth $5,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of PACCAR by 0.8% in the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock valued at $6,205,117,000 after acquiring an additional 485,678 shares in the last quarter. State Street Corp increased its position in PACCAR by 1.0% during the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock valued at $2,142,139,000 after purchasing an additional 218,188 shares during the period. Geode Capital Management LLC increased its position in PACCAR by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock valued at $1,184,112,000 after purchasing an additional 159,632 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of PACCAR by 25.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of PACCAR by 5.0% in the 2nd quarter. Invesco Ltd. now owns 5,212,386 shares of the company’s stock worth $495,489,000 after purchasing an additional 246,410 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In related news, VP Paulo Henrique Bolgar sold 12,183 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the transaction, the vice president owned 6,274 shares in the company, valued at $768,125.82. This trade represents a 66.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 9,258 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the sale, the chief executive officer owned 258,566 shares in the company, valued at approximately $33,536,010.20. The trade was a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

Shares of PCAR stock opened at $126.09 on Friday. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $131.88. The firm has a market capitalization 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 $107.77.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. PACCAR’s revenue was down 15.1% on a year-over-year basis. During the same period last year, the firm posted $1.66 EPS. As a group, equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, February 11th. PACCAR’s payout ratio is presently 29.27%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent research reports. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Morgan Stanley set a $109.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. raised their price objective on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday. Finally, Truist Financial increased their price target on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $116.50.

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.