PACCAR Inc. $PCAR Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC reduced its holdings in PACCAR Inc. (NASDAQ:PCAR) by 54.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,548 shares of the company’s stock after selling 23,706 shares during the period. Richard Bernstein Advisors LLC’s holdings in PACCAR were worth $1,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in PACCAR in the 2nd quarter valued at $472,520,000. Pacer Advisors Inc. increased its stake in shares of 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 in the last quarter. American Century Companies Inc. raised its position in shares of PACCAR by 235.9% during the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after purchasing an additional 1,784,236 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in PACCAR by 25.2% in the 2nd 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 in the last quarter. Finally, Capital Research Global Investors boosted its stake in PACCAR by 20.3% during the 3rd quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after purchasing an additional 1,009,134 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PCAR shares. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup boosted their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $116.50.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the sale, the chief financial officer owned 903 shares of the company’s stock, valued at $117,760.23. This trade represents a 70.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the sale, the vice president owned 6,274 shares in the company, valued at $768,125.82. The trade was a 66.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 133,105 shares of company stock worth $16,869,046 over the last three months. 2.02% of the stock is owned by insiders.

PACCAR Stock Up 0.2%

Shares of NASDAQ PCAR opened at $120.67 on Tuesday. 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 business’s 50 day moving average is $122.23 and its two-hundred day moving average is $108.83. 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 $63.46 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.01 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last posted its 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 firm had revenue of $6.82 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. Research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

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.