Private Advisor Group LLC Invests $210,000 in PACCAR Inc (PCAR)

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Private Advisor Group LLC purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,668 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of PACCAR by 7.8% during the fourth quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock valued at $1,445,476,000 after buying an additional 1,830,638 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of PACCAR by 7,876.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,701,443 shares of the company’s stock valued at $135,000 after buying an additional 7,604,885 shares during the period. FMR LLC increased its position in shares of PACCAR by 26.1% during the third quarter. FMR LLC now owns 6,043,716 shares of the company’s stock valued at $412,121,000 after buying an additional 1,249,446 shares during the period. Bank of New York Mellon Corp increased its position in shares of PACCAR by 33.3% during the third quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after buying an additional 1,505,929 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of PACCAR by 11.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,653,453 shares of the company’s stock valued at $180,962,000 after buying an additional 274,613 shares during the period. Institutional investors own 60.17% of the company’s stock.

Several brokerages recently issued reports on PCAR. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, March 12th. BidaskClub cut shares of PACCAR from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Robert W. Baird upgraded shares of PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price target on the stock in a research report on Thursday, February 7th. Piper Jaffray Companies boosted their price target on shares of PACCAR to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, February 5th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. PACCAR has an average rating of “Hold” and an average price target of $68.04.

In other news, VP David J. Danforth sold 1,549 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $64.49, for a total value of $99,895.01. Following the transaction, the vice president now owns 6,571 shares in the company, valued at $423,763.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Todd R. Hubbard sold 418 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $68.50, for a total transaction of $28,633.00. Following the completion of the transaction, the vice president now owns 4,586 shares in the company, valued at approximately $314,141. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,989 shares of company stock worth $4,160,345. Corporate insiders own 2.64% of the company’s stock.

Shares of PCAR opened at $67.65 on Friday. The stock has a market capitalization of $23.46 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.18 and a current ratio of 2.33. PACCAR Inc has a fifty-two week low of $53.43 and a fifty-two week high of $72.89.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 29th. The company reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.08. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.71 billion. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share. As a group, equities analysts predict that PACCAR Inc will post 6.42 earnings per share for the current year.

PACCAR declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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