Anchyra Partners LLC Takes $787,000 Position in PACCAR Inc. $PCAR

Anchyra Partners LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,186 shares of the company’s stock, valued at approximately $787,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCAR. Private Wealth Management Group LLC increased its holdings in PACCAR by 293.1% during the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 211 shares during the period. Camelot Portfolios LLC purchased a new stake in PACCAR during the fourth quarter worth $33,000. Wealth Watch Advisors INC bought a new stake in PACCAR during the 3rd quarter valued at $32,000. True Wealth Design LLC boosted its position in PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after acquiring an additional 138 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of PACCAR in the 3rd quarter valued at $38,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PCAR shares. Citigroup boosted their price target on PACCAR from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Wells Fargo & Company set a $119.00 price objective on PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. lifted 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. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Finally, BNP Paribas Exane began coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $117.42.

PACCAR Price Performance

Shares of PCAR stock opened at $127.00 on Monday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $131.88. The stock’s fifty day moving average price is $121.31 and its 200 day moving average price is $113.75. 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 company has a market cap of $66.84 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates 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 firm’s revenue was down 15.1% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share. On average, research analysts expect that PACCAR Inc. will post 5.55 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the sale, the vice president directly owned 6,274 shares in the company, valued at $768,125.82. This trade represents a 66.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares in the company, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 133,105 shares of company stock valued at $16,869,046. 1.99% of the stock is owned by company insiders.

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.