PACCAR Inc. $PCAR Holdings Lifted by Korea Investment CORP

Korea Investment CORP raised its position in PACCAR Inc. (NASDAQ:PCAR) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 412,184 shares of the company’s stock after acquiring an additional 10,861 shares during the quarter. Korea Investment CORP’s holdings in PACCAR were worth $40,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Private Wealth Management Group LLC grew its holdings in PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 211 shares in the last quarter. AlphaQuest LLC bought a new stake in PACCAR during the 3rd quarter valued at $38,000. Westside Investment Management Inc. raised its stake in PACCAR by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares in the last quarter. Rothschild Investment LLC boosted its position in PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after acquiring an additional 454 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of PACCAR in the second quarter worth $81,000. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other PACCAR news, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the sale, the executive vice president directly owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 9,258 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the transaction, the chief executive officer owned 258,566 shares of the company’s stock, valued at approximately $33,536,010.20. This trade represents a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 133,105 shares of company stock valued at $16,869,046 in the last quarter. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PCAR. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $116.50.

PACCAR Stock Up 0.2%

PCAR opened at $120.67 on Tuesday. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88. 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 stock’s fifty day moving average is $122.23 and its 200-day moving average is $108.83. The company has a market capitalization of $63.46 billion, a PE ratio of 26.76, a P/E/G ratio of 1.01 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The company’s revenue was down 15.1% on a year-over-year basis. On average, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Company 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.