Oppenheimer Asset Management Inc. Sells 8,266 Shares of PACCAR Inc. $PCAR

Oppenheimer Asset Management Inc. reduced its stake in PACCAR Inc. (NASDAQ:PCAR) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,256 shares of the company’s stock after selling 8,266 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in PACCAR were worth $13,692,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its holdings in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Private Wealth Management Group LLC increased its position in PACCAR by 293.1% during 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 during the period. AlphaQuest LLC acquired a new stake in shares of PACCAR during the third quarter worth $38,000. Hantz Financial Services Inc. boosted its position in shares of PACCAR by 43.8% in the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares during the period. Finally, Westside Investment Management Inc. grew its stake in shares of PACCAR by 100.0% in the third 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. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other PACCAR news, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total value of $1,223,798.16. Following the sale, the executive vice president owned 12,592 shares in the company, valued at $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 9,258 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the sale, the chief executive officer directly owned 258,566 shares in the company, valued at approximately $33,536,010.20. The trade was a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 130,905 shares of company stock worth $16,582,144 over the last 90 days. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several analyst reports. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $90.00 price objective on shares of PACCAR in a report on Tuesday, October 21st. Finally, Sanford C. Bernstein set a $138.00 target price on PACCAR and gave the company an “outperform” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.50.

PACCAR Trading Down 0.1%

Shares of PCAR opened at $127.26 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.42 and a current ratio of 1.70. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The firm has a market cap of $66.84 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 1.07 and a beta of 1.03. The business’s fifty day moving average is $116.59 and its 200-day moving average is $105.09.

PACCAR (NASDAQ:PCAR) last released 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. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.PACCAR’s revenue was down 15.1% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. Equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio is currently 29.27%.

About PACCAR

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.