Stevens Capital Management LP Makes New Investment in PACCAR Inc. $PCAR

Stevens Capital Management LP purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,566 shares of the company’s stock, valued at approximately $646,000.

Other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC lifted its holdings in PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 211 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of PACCAR in the third quarter valued at $38,000. Hantz Financial Services Inc. boosted 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 purchasing an additional 134 shares during the period. Westside Investment Management Inc. grew its stake in PACCAR by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after purchasing an additional 454 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 2.9%

Shares of NASDAQ:PCAR opened at $128.46 on Friday. The firm has a 50 day simple moving average of $119.60 and a 200-day simple moving average of $106.80. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88. The company has a current ratio of 2.98, a quick ratio of 1.42 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $67.56 billion, a PE ratio of 28.48, a P/E/G ratio of 1.08 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the business earned $1.66 EPS. PACCAR’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. PACCAR’s dividend payout ratio is 29.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PCAR shares. Truist Financial lifted their price objective on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Citigroup raised their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Sanford C. Bernstein set a $138.00 target price on shares of PACCAR and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $116.50.

Insider Activity

In other news, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the sale, the chief financial officer directly owned 903 shares of the company’s stock, valued at approximately $117,760.23. This represents a 70.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the completion of the transaction, the executive vice president directly owned 12,592 shares in the company, valued at $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 133,105 shares of company stock worth $16,869,046 over the last ninety days. 2.02% of the stock is owned by corporate insiders.

PACCAR 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.