PACCAR Inc (PCAR) Stake Boosted by Salem Capital Management Inc.

Salem Capital Management Inc. lifted its holdings in PACCAR Inc (NASDAQ:PCAR) by 63.8% in the first quarter, HoldingsChannel.com reports. The fund owned 19,000 shares of the company’s stock after buying an additional 7,400 shares during the quarter. Salem Capital Management Inc.’s holdings in PACCAR were worth $1,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Castle Rock Wealth Management LLC boosted its stake in PACCAR by 2.2% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,291 shares of the company’s stock valued at $544,000 after buying an additional 180 shares during the last quarter. Strs Ohio boosted its stake in PACCAR by 2.5% during the fourth quarter. Strs Ohio now owns 9,535 shares of the company’s stock valued at $544,000 after buying an additional 234 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in PACCAR by 1.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 18,392 shares of the company’s stock valued at $1,050,000 after buying an additional 248 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in PACCAR by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 15,378 shares of the company’s stock valued at $879,000 after buying an additional 271 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in PACCAR by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 48,981 shares of the company’s stock valued at $3,336,000 after buying an additional 276 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:PCAR traded down $0.21 during trading on Monday, hitting $70.29. The company had a trading volume of 78,967 shares, compared to its average volume of 1,870,505. The firm has a market capitalization of $24.45 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.29 and a beta of 1.24. PACCAR Inc has a one year low of $53.43 and a one year high of $72.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.33 and a quick ratio of 2.18.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 29th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.08. The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.71 billion. PACCAR had a return on equity of 25.01% and a net margin of 9.34%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the company earned $1.18 EPS. As a group, analysts expect that PACCAR Inc will post 6.43 earnings per share for the current fiscal year.

In other news, CEO Ronald E. Armstrong sold 15,784 shares of the stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $66.00, for a total value of $1,041,744.00. Following the sale, the chief executive officer now directly owns 222,499 shares in the company, valued at $14,684,934. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Darrin C. Siver sold 8,088 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $68.81, for a total value of $556,535.28. Following the completion of the sale, the senior vice president now owns 24,335 shares in the company, valued at $1,674,491.35. The disclosure for this sale can be found here. Insiders sold a total of 61,989 shares of company stock valued at $4,160,345 over the last ninety days. Corporate insiders own 2.32% of the company’s stock.

A number of brokerages recently commented on PCAR. Zacks Investment Research lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. BidaskClub lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Robert W. Baird raised PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price target for the company in a research note on Thursday, February 7th. Piper Jaffray Companies increased their price target on PACCAR to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, February 5th. They noted that the move was a valuation call. Finally, ValuEngine raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.48.

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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. 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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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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