PACCAR Inc. $PCAR Position Lifted by Korea Investment CORP

Key Points

• Korea Investment CORP raised its stake in PACCAR by 2.7% in Q3 to 412,184 shares (about $40.53 million), representing roughly 0.08% of the company.
• PACCAR reported quarterly EPS of $1.06 (in line with estimates) and revenue of $6.82 billion (above the $6.06 billion consensus) despite revenue falling 15.1% year-over-year; the stock carries a consensus "Hold" rating with a $116.50 price target.
• Insiders have been net sellers—133,105 shares worth $16.87 million were sold over the past three months, including large sales by the CFO and a VP—while institutional investors own about 64.90% of the stock.

Korea Investment CORP grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,184 shares of the company's stock after acquiring an additional 10,861 shares during the period. Korea Investment CORP owned about 0.08% of PACCAR worth $40,526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Wealth Management Group LLC grew its stake in PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company's stock worth $28,000 after purchasing an additional 211 shares in the last quarter. AlphaQuest LLC bought a new stake in PACCAR in the third quarter valued at about $38,000. Westside Investment Management Inc. raised its stake in PACCAR by 100.0% during the third quarter. Westside Investment Management Inc. now owns 432 shares of the company's stock valued at $42,000 after buying an additional 216 shares in the last quarter. Rothschild Investment LLC raised its stake in PACCAR by 121.4% during the third quarter. Rothschild Investment LLC now owns 828 shares of the company's stock valued at $81,000 after buying an additional 454 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new position in PACCAR during the 3rd quarter worth approximately $82,000. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Up 0.2%

NASDAQ:PCAR opened at $120.67 on Tuesday. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average of $122.23 and a 200-day moving average of $108.83. The firm has a market capitalization of $63.46 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.01 and a beta of 1.03. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $131.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter last year, the business posted $1.66 EPS. The business's revenue was down 15.1% on a year-over-year basis. Analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PCAR shares. Citigroup lifted their target price on PACCAR from $120.00 to $125.00 and gave the stock a "neutral" rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. raised their price objective on PACCAR from $133.00 to $142.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 14th. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the stock an "equal weight" rating in a report on Tuesday, February 3rd. Zacks Research upgraded shares of PACCAR from a "strong sell" rating to a "hold" rating in a research note on Monday, December 8th. Finally, Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $116.50.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the sale, the chief financial officer directly owned 903 shares of the company's stock, valued at $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the firm's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the sale, the vice president owned 6,274 shares in the company, valued at $768,125.82. The trade was a 66.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 133,105 shares of company stock valued at $16,869,046 over the last three months. 2.02% of the stock is currently owned by company insiders.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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