PACCAR Inc. $PCAR Stock Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 34.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,742 shares of the company’s stock after buying an additional 32,839 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in PACCAR were worth $14,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Lakeside Advisors INC. increased its holdings in PACCAR by 2.3% during the 3rd quarter. Lakeside Advisors INC. now owns 34,989 shares of the company’s stock valued at $3,842,000 after purchasing an additional 792 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in PACCAR by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 76,045 shares of the company’s stock valued at $8,351,000 after purchasing an additional 778 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in PACCAR in the third quarter worth $450,000. Delta Capital Management LLC boosted its stake in PACCAR by 2.2% in the third quarter. Delta Capital Management LLC now owns 33,680 shares of the company’s stock worth $3,698,000 after purchasing an additional 720 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new position in PACCAR in the third quarter worth $1,460,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Feight sold 50,975 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This represents a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 56,842 shares of company stock valued at $7,565,677. 1.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on PACCAR from $164.00 to $142.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Sanford C. Bernstein reiterated an “outperform” rating and set 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 shares of PACCAR and gave the stock a “hold” rating in a report on Monday, October 5th. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Finally, Citigroup dropped their target price on shares of PACCAR from $140.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $133.88.

PACCAR Stock Down 2.4%

NASDAQ PCAR opened at $106.96 on Friday. The stock has a fifty day moving average of $117.32 and a 200-day moving average of $120.21. The stock has a market capitalization of $56.30 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. PACCAR Inc. has a 52 week low of $93.86 and a 52 week high of $139.24. 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 (NASDAQ:PCAR) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Wednesday, November 11th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, November 10th. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

PACCAR Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.