World Investment Advisors LLC Invests $419,000 in PACCAR Inc (NASDAQ:PCAR)

World Investment Advisors LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,244 shares of the company’s stock, valued at approximately $419,000.

Other hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in shares of PACCAR in the second quarter worth $26,000. Meeder Asset Management Inc. boosted its holdings in PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in PACCAR in the second quarter worth $36,000. Grove Bank & Trust boosted its holdings in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares in the last quarter. Finally, Sander Capital Advisors Inc. bought a new stake in PACCAR in the third quarter worth $50,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the transaction, the senior vice president now owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 over the last quarter. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Down 0.6 %

NASDAQ PCAR opened at $111.66 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The firm has a 50-day simple moving average of $111.31 and a 200 day simple moving average of $103.95. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The stock has a market cap of $58.54 billion, a PE ratio of 12.48, a PEG ratio of 1.77 and a beta of 0.91.

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

PACCAR Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date is Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is currently 13.41%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PCAR shares. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup upped their price objective on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley decreased their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $118.25.

PACCAR Company 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.