Connor Clark & Lunn Investment Management Ltd. Acquires 152,032 Shares of PACCAR Inc. $PCAR

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 63.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 390,106 shares of the company’s stock after buying an additional 152,032 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of PACCAR worth $38,355,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PCAR. Private Wealth Management Group LLC lifted its position in shares of PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the period. AlphaQuest LLC acquired a new stake in PACCAR in the third quarter worth $38,000. Westside Investment Management Inc. grew its holdings in PACCAR by 100.0% in the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. Rothschild Investment LLC increased its stake in PACCAR by 121.4% in the third quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock valued at $81,000 after purchasing an additional 454 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of PACCAR during the second quarter valued at about $81,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This trade represents a 66.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 9,258 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the transaction, the chief executive officer owned 258,566 shares in the company, valued at $33,536,010.20. The trade was a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 133,105 shares of company stock worth $16,869,046. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PCAR shares. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup upped their price target on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. boosted their price objective on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $116.50.

PACCAR Stock Performance

NASDAQ PCAR opened at $116.82 on Friday. The company has a fifty day moving average price of $122.71 and a 200-day moving average price of $109.08. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 0.99 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the firm earned $1.66 earnings per share. The firm’s revenue was down 15.1% on a year-over-year basis. As a group, equities research 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.