Bokf Na trimmed its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,979 shares of the company’s stock after selling 1,933 shares during the quarter. Bokf Na’s holdings in PACCAR were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of PACCAR by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock worth $289,187,000 after acquiring an additional 350,337 shares in the last quarter. Kinneret Advisory LLC purchased a new position in PACCAR during the fourth quarter valued at approximately $99,000. Prudential PLC grew its position in PACCAR by 4.4% during the fourth quarter. Prudential PLC now owns 12,280 shares of the company’s stock valued at $701,000 after purchasing an additional 522 shares in the last quarter. Natixis Advisors L.P. grew its position in PACCAR by 20.2% during the fourth quarter. Natixis Advisors L.P. now owns 13,787 shares of the company’s stock valued at $788,000 after purchasing an additional 2,316 shares in the last quarter. Finally, Berman Capital Advisors LLC purchased a new position in PACCAR during the fourth quarter valued at approximately $43,000. Institutional investors own 60.17% of the company’s stock.
PCAR stock opened at $67.65 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.33 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $23.46 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.98 and a beta of 1.24. PACCAR Inc has a 12 month low of $53.43 and a 12 month high of $72.89.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 29th. The company reported $1.65 EPS for the quarter, topping 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 company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 earnings per share. On average, equities research analysts predict that PACCAR Inc will post 6.42 EPS for the current fiscal year.
PACCAR announced that its Board of Directors has authorized a share buyback program on Tuesday, December 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other PACCAR news, VP David J. Danforth sold 1,549 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $64.49, for a total value of $99,895.01. Following the completion of the sale, the vice president now directly owns 6,571 shares of the company’s stock, valued at $423,763.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Preston Feight sold 3,226 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $68.73, for a total transaction of $221,722.98. The disclosure for this sale can be found here. Insiders sold 61,989 shares of company stock valued at $4,160,345 over the last three months. Insiders own 2.64% of the company’s stock.
PCAR has been the topic of a number of research analyst reports. Zacks Investment Research reaffirmed a “buy” rating and set a $61.00 price objective on shares of PACCAR in a research report on Monday, December 31st. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, November 22nd. ValuEngine raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, December 21st. Finally, Mizuho reaffirmed a “hold” rating on shares of PACCAR in a research report on Monday, December 31st. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $68.04.
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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. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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