AXQ Capital LP Purchases New Stake in PACCAR Inc. $PCAR

AXQ Capital LP acquired a new position in PACCAR Inc. (NASDAQ:PCAR) in the third quarter, HoldingsChannel reports. The institutional investor acquired 5,922 shares of the company’s stock, valued at approximately $582,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth raised its stake in PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after acquiring an additional 1,812 shares during the period. Focus Partners Advisor Solutions LLC lifted its holdings in PACCAR by 1.2% in the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after acquiring an additional 116 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in PACCAR by 29.1% in the second quarter. Wealthfront Advisers LLC now owns 93,430 shares of the company’s stock worth $8,881,000 after acquiring an additional 21,046 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in PACCAR by 15.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 92,971 shares of the company’s stock valued at $8,838,000 after acquiring an additional 12,710 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, VP Paulo Henrique Bolgar sold 12,183 shares of the business’s stock in a transaction dated 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 sale, the vice president directly owned 6,274 shares in the company, valued at approximately $768,125.82. The trade was a 66.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 9,258 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 258,566 shares of the company’s stock, valued at $33,536,010.20. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 133,105 shares of company stock worth $16,869,046 in the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Up 0.2%

PCAR opened at $126.25 on Wednesday. The stock’s 50 day moving average price is $120.15 and its 200 day moving average price is $107.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. The stock has a market cap of $66.39 billion, a P/E ratio of 27.99, a P/E/G ratio of 1.06 and a beta of 1.03. PACCAR Inc. has a 12 month low of $84.65 and a 12 month 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 (EPS) for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is presently 29.27%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCAR. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. raised their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $116.50.

PACCAR 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.