Calamos Advisors LLC Cuts Holdings in PACCAR Inc. $PCAR

Calamos Advisors LLC trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,336 shares of the company’s stock after selling 6,145 shares during the period. Calamos Advisors LLC’s holdings in PACCAR were worth $16,573,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Private Wealth Management Group LLC raised its stake in shares of 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 in the last quarter. Wealth Watch Advisors INC purchased a new position in shares of PACCAR during the 3rd quarter worth approximately $32,000. True Wealth Design LLC raised its stake in shares of PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company’s stock worth $40,000 after buying an additional 138 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of PACCAR during the 3rd quarter worth approximately $38,000. Finally, Westside Investment Management Inc. grew its holdings in shares of PACCAR by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PCAR shares. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Truist Financial upped their price target on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Citigroup upped their price target on PACCAR from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $117.42.

PACCAR Stock Performance

PCAR opened at $127.00 on Friday. The stock has a market cap of $66.84 billion, a P/E ratio of 28.16, a P/E/G ratio of 1.06 and a beta of 1.06. 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’s 50 day simple moving average is $121.31 and its 200 day simple moving average is $113.62. PACCAR Inc. has a 1-year low of $84.65 and a 1-year 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 for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $6.82 billion for 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 was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 EPS. As a group, equities analysts anticipate that PACCAR Inc. will post 5.55 EPS for the current fiscal year.

Insider Activity

In other PACCAR news, EVP Kevin D. Baney sold 9,672 shares of the stock in a transaction 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 sale, the executive vice president owned 12,592 shares in the company, valued at approximately $1,593,265.76. This represents a 43.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the sale, the executive vice president owned 34,656 shares in the company, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 133,105 shares of company stock worth $16,869,046 in the last quarter. 1.99% of the stock is currently owned by corporate insiders.

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.