Barclays PLC Increases Stake in PACCAR Inc. $PCAR

Barclays PLC lifted its position in PACCAR Inc. (NASDAQ:PCAR) by 14.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,492,633 shares of the company’s stock after acquiring an additional 306,043 shares during the period. Barclays PLC’s holdings in PACCAR were worth $245,076,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC lifted its stake in PACCAR by 1.4% in the third quarter. Orion Porfolio Solutions LLC now owns 63,796 shares of the company’s stock worth $6,272,000 after purchasing an additional 851 shares during the last quarter. Leeward Financial Partners LLC boosted its holdings in PACCAR by 15.4% during the 3rd quarter. Leeward Financial Partners LLC now owns 23,158 shares of the company’s stock valued at $2,277,000 after acquiring an additional 3,094 shares during the period. Cresset Asset Management LLC grew its position in PACCAR by 4.9% in the 3rd quarter. Cresset Asset Management LLC now owns 6,702 shares of the company’s stock valued at $659,000 after acquiring an additional 315 shares during the last quarter. CI Investments Inc. increased its stake in PACCAR by 1.0% in the third quarter. CI Investments Inc. now owns 12,299 shares of the company’s stock worth $1,209,000 after purchasing an additional 120 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its position in shares of PACCAR by 5.7% during the third quarter. Focus Partners Advisor Solutions LLC now owns 10,194 shares of the company’s stock worth $1,003,000 after purchasing an additional 549 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 9,258 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at approximately $33,536,010.20. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin D. Baney sold 9,672 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the sale, the executive vice president directly owned 12,592 shares in the company, valued at $1,593,265.76. This represents a 43.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 133,105 shares of company stock valued at $16,869,046 in the last 90 days. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

Shares of PCAR stock opened at $120.43 on Friday. The firm has a market cap of $63.33 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.03 and a beta of 1.03. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $122.05 and its 200 day moving average is $108.53.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter last year, the firm earned $1.66 EPS. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is 29.27%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PCAR shares. Citigroup upped their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $116.50.

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.