Oppenheimer Asset Management Inc. Has $13.69 Million Position in PACCAR Inc. $PCAR

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

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. lifted its holdings in shares of PACCAR by 53.8% during the second 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 period. Private Wealth Management Group LLC increased its holdings in PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the period. AlphaQuest LLC bought a new position in PACCAR during the 3rd quarter worth $38,000. Hantz Financial Services Inc. lifted its holdings in PACCAR by 43.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after buying an additional 134 shares during the period. Finally, Westside Investment Management Inc. grew its position in shares of PACCAR by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Down 0.1%

Shares of NASDAQ PCAR opened at $127.26 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. The firm has a market cap of $66.84 billion, a PE ratio of 28.22, a P/E/G ratio of 1.07 and a beta of 1.03. The company’s fifty day simple moving average is $116.59 and its 200 day simple moving average is $105.09. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced 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 firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 earnings per share. As a group, sell-side analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.0%. PACCAR’s dividend payout ratio is presently 29.27%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PCAR. UBS Group set a $103.00 price objective on PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Citigroup increased their target price on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $116.50.

Insider Transactions at PACCAR

In other news, EVP Kevin D. Baney sold 9,672 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the completion of the sale, the executive vice president owned 12,592 shares in the company, valued at $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 9,258 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total value of $1,200,762.60. Following the transaction, the chief executive officer directly owned 258,566 shares in the company, valued at $33,536,010.20. The trade was a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 130,905 shares of company stock valued at $16,582,144. Company insiders own 2.02% of the company’s stock.

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.