DekaBank Deutsche Girozentrale grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,239 shares of the company’s stock after acquiring an additional 9,037 shares during the period. DekaBank Deutsche Girozentrale owned 0.07% of PACCAR worth $20,711,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Fort Pitt Capital Group LLC bought a new stake in PACCAR in the fourth quarter worth approximately $25,000. Sittner & Nelson LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $30,000. Signet Investment Advisory Group Inc. acquired a new stake in shares of PACCAR in the fourth quarter worth $34,000. Tompkins Financial Corp acquired a new stake in shares of PACCAR in the fourth quarter worth $53,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $58,000. 61.80% of the stock is owned by institutional investors.
In other news, VP Michael K. Walton sold 1,688 shares of the company’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $97.22, for a total value of $164,107.36. Following the sale, the vice president now owns 40,401 shares of the company’s stock, valued at approximately $3,927,785.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 3,326 shares of the company’s stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $100.00, for a total transaction of $332,600.00. Following the completion of the sale, the vice president now directly owns 4,068 shares in the company, valued at approximately $406,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,150 shares of company stock worth $2,540,164. 2.18% of the stock is owned by insiders.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Monday, January 25th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.05). PACCAR had a net margin of 7.39% and a return on equity of 14.49%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the company posted $1.53 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts predict that PACCAR Inc will post 3.76 earnings per share for the current year.
A number of analysts have recently weighed in on PCAR shares. Zacks Investment Research cut shares of PACCAR from a “strong-buy” rating to a “hold” rating and set a $89.00 price objective for the company. in a research note on Tuesday, December 15th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PACCAR from $92.00 to $91.00 and set a “hold” rating for the company in a research note on Thursday, April 1st. Vertical Research initiated coverage on shares of PACCAR in a research note on Wednesday, January 20th. They set a “hold” rating and a $95.00 target price for the company. Credit Suisse Group cut their target price on shares of PACCAR from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, January 27th. Finally, Raymond James upped their target price on shares of PACCAR from $105.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Monday, January 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $95.43.
PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.
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