Hotchkis & Wiley Capital Management LLC Has $213.96 Million Position in PACCAR Inc (NASDAQ:PCAR)

Hotchkis & Wiley Capital Management LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,168,225 shares of the company’s stock after buying an additional 286,600 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.41% of PACCAR worth $213,960,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PCAR. BDF Gestion bought a new stake in PACCAR in the 2nd quarter valued at about $2,862,000. Mengis Capital Management Inc. boosted its stake in shares of PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of PACCAR by 28.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock worth $2,552,000 after acquiring an additional 5,437 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PACCAR by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company’s stock valued at $301,260,000 after buying an additional 47,855 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup increased their price target on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Truist Financial boosted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $117.64.

PACCAR Stock Performance

NASDAQ PCAR opened at $116.24 on Tuesday. The firm’s 50 day simple moving average is $107.64 and its 200 day simple moving average is $103.28. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $60.94 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 1.83 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the business earned $2.34 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. As a group, research analysts expect that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Buying and Selling at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the transaction, the senior vice president now owns 7,121 shares in the company, valued at approximately $761,947. The trade was a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.