Boothbay Fund Management LLC Purchases Shares of 29,651 PACCAR Inc. $PCAR

Boothbay Fund Management LLC acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,651 shares of the company’s stock, valued at approximately $2,915,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in PACCAR by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock valued at $6,205,117,000 after acquiring an additional 485,678 shares in the last quarter. State Street Corp boosted its holdings in PACCAR by 1.0% during the second quarter. State Street Corp now owns 22,534,596 shares of the company’s stock worth $2,142,139,000 after purchasing an additional 218,188 shares during the last quarter. Capital Research Global Investors grew its position in PACCAR by 20.3% in 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 in the last quarter. JPMorgan Chase & Co. increased its stake 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 buying an additional 1,165,443 shares during the last quarter. Finally, Invesco Ltd. increased its stake in PACCAR by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock valued at $530,622,000 after buying an additional 184,502 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PCAR. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. 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. 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 report on Wednesday, January 14th. Finally, Citigroup upped their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $116.50.

PACCAR Trading Up 0.3%

NASDAQ:PCAR opened at $115.63 on Tuesday. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $122.84 and its 200 day moving average is $109.40. The stock has a market capitalization of $60.81 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

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. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the company earned $1.66 earnings per share. PACCAR’s revenue was down 15.1% compared to the same quarter last year. Sell-side analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

Insider Activity

In related news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR 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 completion of the sale, the chief financial officer owned 903 shares of the company’s stock, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 34,656 shares in the company, valued at $4,433,195.52. This represents a 69.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 133,105 shares of company stock worth $16,869,046. 2.02% 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.