Capital Investment Counsel Inc boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,550 shares of the company’s stock after buying an additional 1,011 shares during the quarter. Capital Investment Counsel Inc’s holdings in PACCAR were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in PACCAR by 7.8% during the fourth quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock worth $1,445,476,000 after buying an additional 1,830,638 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in 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 worth $135,000 after buying an additional 7,604,885 shares during the period. Norges Bank purchased a new stake in shares of PACCAR during the fourth quarter valued at $333,867,000. Geode Capital Management LLC boosted its stake in shares of PACCAR by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock valued at $289,187,000 after purchasing an additional 350,337 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of PACCAR by 2.2% during the fourth quarter. Northern Trust Corp now owns 4,005,648 shares of the company’s stock valued at $228,882,000 after purchasing an additional 87,800 shares during the period. 62.64% of the stock is owned by institutional investors.
PCAR has been the subject of a number of recent analyst reports. Zacks Investment Research reissued a “buy” rating and set a $61.00 target price on shares of PACCAR in a research note on Monday, December 31st. Mizuho reissued a “hold” rating on shares of PACCAR in a research note on Monday, December 31st. Vertical Research lowered shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. ValuEngine lowered shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Finally, JPMorgan Chase & Co. lowered shares of PACCAR from a “neutral” rating to an “underweight” rating and set a $54.00 target price for the company. in a research note on Thursday, January 10th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $66.82.
PACCAR (NASDAQ:PCAR) last released 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. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The company had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc will post 6.43 EPS for the current fiscal year.
In other PACCAR news, CEO Ronald E. Armstrong sold 15,784 shares of the business’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $66.00, for a total value of $1,041,744.00. Following the completion of the transaction, the chief executive officer now directly owns 222,499 shares in the company, valued at $14,684,934. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David J. Danforth sold 1,549 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $64.49, for a total transaction of $99,895.01. Following the completion of the transaction, the vice president now owns 6,571 shares of the company’s stock, valued at $423,763.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,989 shares of company stock valued at $4,160,345. 2.32% of the stock is owned by insiders.
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PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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