PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Denali Advisors LLC

Denali Advisors LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 394.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,900 shares of the company’s stock after purchasing an additional 75,700 shares during the quarter. Denali Advisors LLC’s holdings in PACCAR were worth $6,644,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PCAR. PNC Financial Services Group Inc. boosted its position in shares of PACCAR by 121.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 36,321 shares of the company’s stock valued at $2,474,000 after acquiring an additional 19,951 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of PACCAR by 35.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 123,140 shares of the company’s stock valued at $8,391,000 after acquiring an additional 32,557 shares during the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of PACCAR during the 1st quarter valued at approximately $272,000. Kennedy Capital Management Inc. boosted its position in shares of PACCAR by 3.7% during the 1st quarter. Kennedy Capital Management Inc. now owns 71,757 shares of the company’s stock valued at $4,890,000 after acquiring an additional 2,584 shares during the last quarter. Finally, O Shares Investment Advisers LLC boosted its position in shares of PACCAR by 1.5% during the 1st quarter. O Shares Investment Advisers LLC now owns 12,960 shares of the company’s stock valued at $883,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

In related news, VP David J. Danforth sold 848 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $71.66, for a total transaction of $60,767.68. Following the sale, the vice president now owns 4,958 shares in the company, valued at approximately $355,290.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.32% of the company’s stock.

A number of research analysts have recently commented on PCAR shares. Loop Capital downgraded PACCAR from a “hold” rating to a “sell” rating and lowered their target price for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. Morgan Stanley increased their target price on PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. Credit Suisse Group increased their target price on PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upgraded PACCAR from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $87.00 to $66.00 in a research report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. PACCAR presently has a consensus rating of “Hold” and an average target price of $68.89.

NASDAQ:PCAR traded up $0.33 during midday trading on Wednesday, hitting $66.89. 1,119,848 shares of the company traded hands, compared to its average volume of 1,807,418. The firm’s fifty day moving average is $67.68 and its 200-day moving average is $68.89. PACCAR Inc has a 12-month low of $53.43 and a 12-month high of $73.00. The firm has a market capitalization of $23.05 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.43 and a beta of 1.26. The company has a current ratio of 2.43, a quick ratio of 2.26 and a debt-to-equity ratio of 0.70.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.82 by ($0.04). PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the company posted $1.59 EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, research analysts expect that PACCAR Inc will post 6.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, November 8th. This represents a $1.28 annualized dividend and a yield of 1.91%. PACCAR’s payout ratio is presently 20.51%.

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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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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