Assenagon Asset Management S.A. Has $1.51 Million Holdings in PACCAR Inc. $PCAR

Assenagon Asset Management S.A. cut its stake in PACCAR Inc. (NASDAQ:PCAR) by 94.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,823 shares of the company’s stock after selling 225,640 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PACCAR were worth $1,514,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fulton Bank N.A. boosted its position in shares of PACCAR by 3.2% during the fourth quarter. Fulton Bank N.A. now owns 3,458 shares of the company’s stock worth $379,000 after purchasing an additional 107 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of PACCAR by 3.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after purchasing an additional 108 shares during the period. Matrix Trust Co lifted its holdings in shares of PACCAR by 3.9% in the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock valued at $290,000 after purchasing an additional 110 shares in the last quarter. Forbes J M & Co. LLP raised its holdings in shares of PACCAR by 4.3% in the third quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock valued at $262,000 after purchasing an additional 111 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in PACCAR by 1.6% during the third quarter. Parallel Advisors LLC now owns 7,715 shares of the company’s stock worth $759,000 after purchasing an additional 118 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCAR has been the subject of a number of analyst reports. BNP Paribas Exane assumed coverage on PACCAR in a research note on Tuesday. They issued a “neutral” rating and a $126.00 price target for the company. Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $117.00.

PACCAR Trading Up 2.7%

Shares of PCAR stock opened at $115.50 on Wednesday. The stock has a market cap of $60.78 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 0.94 and a beta of 1.03. PACCAR Inc. has a 1 year low of $84.65 and a 1 year 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 stock has a 50 day simple moving average of $121.77 and a 200 day simple moving average of $110.57.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The firm 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%.The company’s revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the company earned $1.66 EPS. On average, research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the sale, the chief financial officer owned 903 shares in the company, valued at $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kevin D. Baney sold 9,672 shares of the business’s 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 directly owned 12,592 shares in the company, valued at approximately $1,593,265.76. The trade was a 43.44% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 133,105 shares of company stock worth $16,869,046. 1.99% of the stock is owned by 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.