Sippican Capital Advisors lessened its position in PACCAR Inc (NASDAQ:PCAR) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,401 shares of the company’s stock after selling 275 shares during the period. Sippican Capital Advisors’ holdings in PACCAR were worth $504,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nwam LLC boosted its holdings in shares of PACCAR by 2.0% during the 1st quarter. Nwam LLC now owns 31,383 shares of the company’s stock worth $2,138,000 after buying an additional 617 shares during the period. American Research & Management Co. acquired a new stake in PACCAR in the 1st quarter worth about $68,000. Salem Capital Management Inc. raised its stake in PACCAR by 63.8% in the 1st quarter. Salem Capital Management Inc. now owns 19,000 shares of the company’s stock worth $1,295,000 after purchasing an additional 7,400 shares in the last quarter. Sciencast Management LP acquired a new stake in PACCAR in the 1st quarter worth about $2,414,000. Finally, Kiley Juergens Wealth Management LLC raised its stake in PACCAR by 1.8% in the 1st quarter. Kiley Juergens Wealth Management LLC now owns 19,022 shares of the company’s stock worth $1,296,000 after purchasing an additional 329 shares in the last quarter. 62.50% of the stock is owned by institutional investors.
Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Tuesday. BidaskClub cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Robert W. Baird upgraded shares of PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price objective for the company in a research note on Thursday, February 7th. Piper Jaffray Companies lifted their price objective on shares of PACCAR to $75.00 and gave the stock an “overweight” rating in a research note 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 note on Saturday, January 19th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.73.
In related news, VP David J. Danforth sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $64.99, for a total transaction of $97,485.00. Following the completion of the transaction, the vice president now directly owns 6,571 shares in the company, valued at approximately $427,049.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David J. Danforth sold 1,549 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $64.49, for a total transaction of $99,895.01. Following 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. Insiders sold a total of 61,989 shares of company stock valued at $4,160,345 over the last 90 days. Corporate insiders own 2.32% of the company’s stock.
Shares of NASDAQ:PCAR traded up $0.01 during midday trading on Wednesday, hitting $71.44. The stock had a trading volume of 331,144 shares, compared to its average volume of 1,754,046. The stock has a market capitalization of $24.77 billion, a PE ratio of 11.45, a PEG ratio of 1.30 and a beta of 1.24. The company has a current ratio of 2.33, a quick ratio of 2.18 and a debt-to-equity ratio of 0.75. PACCAR Inc has a fifty-two week low of $53.43 and a fifty-two week high of $72.89.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 29th. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.57 by $0.08. The company had revenue of $5.93 billion during 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 for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 EPS. On average, research analysts predict that PACCAR Inc will post 6.43 EPS for the current fiscal year.
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.
Read More: Cost of Goods Sold (COGS)
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