Healthcare of Ontario Pension Plan Trust Fund grew its stake in PACCAR Inc (NASDAQ:PCAR) by 456.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 103,000 shares of the company’s stock after buying an additional 84,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PACCAR were worth $8,887,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fort Pitt Capital Group LLC purchased a new position in shares of PACCAR in the fourth quarter worth about $25,000. Sittner & Nelson LLC acquired a new position in PACCAR in the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. raised its position in PACCAR by 84.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 385 shares of the company’s stock worth $107,000 after buying an additional 176 shares during the last quarter. Signet Investment Advisory Group Inc. purchased a new stake in shares of PACCAR in the 4th quarter valued at $34,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $58,000. 61.80% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. Raymond James increased their price target on PACCAR from $105.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 25th. Wolfe Research lowered PACCAR from a “market perform” rating to an “underperform” rating in a report on Thursday, January 7th. Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $92.00 to $91.00 and set a “hold” rating for the company in a report on Thursday, April 1st. Zacks Investment Research cut shares of PACCAR from a “strong-buy” rating to a “hold” rating and set a $89.00 price objective on the stock. in a research note on Tuesday, December 15th. Finally, Credit Suisse Group cut their target price on shares of PACCAR from $94.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, January 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $95.43.
PCAR opened at $92.47 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.14 and a quick ratio of 2.95. The company’s 50 day simple moving average is $94.16 and its two-hundred day simple moving average is $90.40. The firm has a market capitalization of $32.10 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 1.62 and a beta of 1.00. PACCAR Inc has a 1-year low of $64.25 and a 1-year high of $103.19.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Monday, January 25th. The company reported $1.17 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.05). PACCAR had a net margin of 7.39% and a return on equity of 14.49%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the company earned $1.53 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR Inc will post 3.76 earnings per share for the current fiscal year.
In related news, CEO R Preston Feight sold 3,288 shares of PACCAR stock in a transaction that occurred on Friday, January 29th. The shares were sold at an average price of $89.81, for a total value of $295,295.28. Following the completion of the transaction, the chief executive officer now owns 21,606 shares in the company, valued at $1,940,434.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $100.00, for a total transaction of $332,600.00. Following the sale, the vice president now directly owns 4,068 shares in the company, valued at $406,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,150 shares of company stock valued at $2,540,164. Company insiders own 2.18% of the company’s stock.
PACCAR Company Profile
PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.
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