Sippican Capital Advisors cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 3.6% during the 1st quarter, HoldingsChannel reports. The fund owned 7,401 shares of the company’s stock after selling 275 shares during the period. Sippican Capital Advisors’ holdings in PACCAR were worth $504,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Waverton Investment Management Ltd boosted its stake in PACCAR by 6.7% during the fourth quarter. Waverton Investment Management Ltd now owns 12,972 shares of the company’s stock worth $741,000 after acquiring an additional 819 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in PACCAR by 9.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 473,442 shares of the company’s stock worth $27,051,000 after acquiring an additional 39,128 shares in the last quarter. American Research & Management Co. bought a new position in PACCAR during the first quarter worth $68,000. Meeder Asset Management Inc. boosted its stake in PACCAR by 62.0% during the fourth quarter. Meeder Asset Management Inc. now owns 78,703 shares of the company’s stock worth $4,496,000 after acquiring an additional 30,116 shares in the last quarter. Finally, Madison Investment Holdings Inc. boosted its stake in PACCAR by 8.9% during the fourth quarter. Madison Investment Holdings Inc. now owns 571,173 shares of the company’s stock worth $32,637,000 after acquiring an additional 46,656 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Tuesday. BidaskClub lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Robert W. Baird upgraded shares of PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price objective on the stock in a report on Thursday, February 7th. Piper Jaffray Companies upped their price objective on shares of PACCAR to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, February 5th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $67.73.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 29th. The company reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.08. The company had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.71 billion. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 earnings per share. As a group, equities analysts forecast that PACCAR Inc will post 6.43 earnings per share for the current fiscal year.
In other news, VP David J. Danforth sold 1,500 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $64.99, for a total value of $97,485.00. Following the completion of the sale, the vice president now owns 6,571 shares in the company, valued at $427,049.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David J. Danforth sold 1,549 shares of the stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $64.49, for a total transaction of $99,895.01. Following the completion of the sale, the vice president now owns 6,571 shares of the company’s stock, valued at approximately $423,763.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,989 shares of company stock valued at $4,160,345. 2.32% of the stock is currently owned by corporate insiders.
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PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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