Stevens Capital Management LP Invests $5.62 Million in PACCAR Inc. (PCAR) Stock
Stevens Capital Management LP bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 77,708 shares of the company’s stock, valued at approximately $5,621,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Davis Selected Advisers boosted its stake in PACCAR by 0.4% in the second quarter. Davis Selected Advisers now owns 3,144 shares of the company’s stock valued at $208,000 after acquiring an additional 12 shares during the last quarter. Conning Inc. boosted its stake in PACCAR by 0.4% in the second quarter. Conning Inc. now owns 10,691 shares of the company’s stock valued at $706,000 after acquiring an additional 39 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in PACCAR by 1.2% in the second quarter. Teacher Retirement System of Texas now owns 3,742 shares of the company’s stock valued at $247,000 after acquiring an additional 46 shares during the last quarter. Atlantic Trust Group LLC boosted its stake in PACCAR by 0.6% in the second quarter. Atlantic Trust Group LLC now owns 12,279 shares of the company’s stock valued at $810,000 after acquiring an additional 68 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in PACCAR by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,098 shares of the company’s stock valued at $1,724,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 62.38% of the company’s stock.
In related news, VP Alma Lily Ley sold 4,024 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the transaction, the vice president now owns 24,319 shares of the company’s stock, valued at approximately $1,726,649. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the transaction, the insider now directly owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The disclosure for this sale can be found here. 2.64% of the stock is owned by corporate insiders.
A number of analysts recently commented on PCAR shares. Deutsche Bank AG dropped their price target on shares of PACCAR from $78.00 to $77.00 and set a “hold” rating on the stock in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, September 5th. J P Morgan Chase & Co upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and upped their price target for the company from $70.00 to $83.00 in a research note on Wednesday, October 4th. BidaskClub upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Robert W. Baird restated a “hold” rating and set a $80.00 price target on shares of PACCAR in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. PACCAR presently has an average rating of “Hold” and an average price target of $75.95.
PACCAR Inc. (NASDAQ:PCAR) opened at $70.48 on Wednesday. The company has a market cap of $24,827.20, a price-to-earnings ratio of 18.10, a PEG ratio of 1.69 and a beta of 1.24. PACCAR Inc. has a twelve month low of $53.38 and a twelve month high of $75.68. The company has a quick ratio of 0.97, a current ratio of 1.17 and a debt-to-equity ratio of 0.75.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.06. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. equities research analysts expect that PACCAR Inc. will post 4.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, November 13th. PACCAR’s payout ratio is 25.64%.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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