Cwm LLC Acquires 7,604 Shares of PACCAR Inc. $PCAR

Cwm LLC grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 260,977 shares of the company’s stock after purchasing an additional 7,604 shares during the period. Cwm LLC’s holdings in PACCAR were worth $25,659,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of PACCAR during the 2nd quarter valued at about $472,520,000. Pacer Advisors Inc. boosted its position in PACCAR by 2,389.2% during the third quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after purchasing an additional 1,930,056 shares during the period. The Manufacturers Life Insurance Company boosted its position in PACCAR by 177.9% during the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock worth $255,187,000 after purchasing an additional 1,677,736 shares during the period. Jones Financial Companies Lllp grew its holdings in PACCAR by 16,393.9% during the first quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company’s stock valued at $139,402,000 after purchasing an additional 1,422,992 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of PACCAR from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $108.00 to $133.00 in a report on Friday, December 19th. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Morgan Stanley set a $90.00 price objective on PACCAR in a research note on Tuesday, October 21st. Sanford C. Bernstein reissued an “outperform” rating and set a $125.00 price objective on shares of PACCAR in a research report on Friday, December 5th. Finally, Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $111.04.

PACCAR Stock Up 0.3%

Shares of PCAR opened at $111.79 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. The company has a 50-day simple moving average of $103.92 and a 200-day simple moving average of $99.63. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $115.43. The firm has a market capitalization of $58.71 billion, a P/E ratio of 21.88, a P/E/G ratio of 15.25 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the business earned $1.85 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, equities research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio is presently 25.83%.

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.