5,922 Shares in PACCAR Inc. $PCAR Acquired by AXQ Capital LP

AXQ Capital LP purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,922 shares of the company’s stock, valued at approximately $582,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Compound Planning Inc. increased its position in shares of PACCAR by 24.3% in the third quarter. Compound Planning Inc. now owns 6,264 shares of the company’s stock worth $616,000 after acquiring an additional 1,225 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in PACCAR by 5.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,295 shares of the company’s stock worth $226,000 after purchasing an additional 122 shares during the period. Avalon Trust Co boosted its position in PACCAR by 77.1% during the 3rd quarter. Avalon Trust Co now owns 1,550 shares of the company’s stock worth $152,000 after purchasing an additional 675 shares during the period. Ameritas Investment Partners Inc. increased its holdings in PACCAR by 0.7% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 22,299 shares of the company’s stock valued at $2,192,000 after purchasing an additional 152 shares in the last quarter. Finally, Channing Capital Management LLC raised its position in PACCAR by 7.5% in the third quarter. Channing Capital Management LLC now owns 90,975 shares of the company’s stock valued at $8,945,000 after purchasing an additional 6,378 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on PACCAR from $133.00 to $142.00 and gave the stock 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. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $116.50.

PACCAR Trading Up 0.2%

Shares of PCAR opened at $126.25 on Wednesday. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88. The stock has a 50-day moving average price of $120.15 and a 200 day moving average price of $107.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The company has a market capitalization of $66.39 billion, a P/E ratio of 27.99, a P/E/G ratio of 1.06 and a beta of 1.03.

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 analysts’ consensus estimates of $1.06. The company 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 quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 EPS. Sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

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

Insider Activity at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 133,105 shares of company stock worth $16,869,046 over the last 90 days. 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.