Natixis Advisors LLC Buys 182,714 Shares of PACCAR Inc. $PCAR

Natixis Advisors LLC lifted its stake in PACCAR Inc. (NASDAQ:PCAR) by 16.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,304,343 shares of the company’s stock after buying an additional 182,714 shares during the quarter. Natixis Advisors LLC’s holdings in PACCAR were worth $128,243,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of PACCAR during the second quarter valued at about $472,520,000. Pacer Advisors Inc. raised its stake in PACCAR by 2,389.2% in the third quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after buying an additional 1,930,056 shares in the last quarter. American Century Companies Inc. lifted its holdings in PACCAR by 235.9% in the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after buying an additional 1,784,236 shares during the period. JPMorgan Chase & Co. lifted its holdings in PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after buying an additional 1,165,443 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in PACCAR during the 3rd quarter valued at approximately $76,435,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 2.4%

NASDAQ:PCAR opened at $120.43 on Monday. 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 firm has a market cap of $63.33 billion, a P/E ratio of 26.70, a P/E/G ratio of 1.01 and a beta of 1.03. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $131.88. The firm has a 50-day simple moving average of $122.05 and a two-hundred day simple moving average of $108.67.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (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 the consensus estimate of $6.06 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio is 29.27%.

Insiders Place Their Bets

In other PACCAR news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares in the company, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR 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 sale, the vice president directly owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. The trade was a 66.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 133,105 shares of company stock worth $16,869,046 in the last three months. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PCAR shares. Truist Financial upped their target price on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. lifted their price target on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Finally, Citigroup raised their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.50.

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.