Lighthouse Investment Partners LLC Raises Holdings in PACCAR Inc. $PCAR

Lighthouse Investment Partners LLC lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 486.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 57,237 shares of the company’s stock after acquiring an additional 47,475 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in PACCAR were worth $5,628,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares in the last quarter. Focus Partners Wealth increased its position in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares during the period. Foundations Investment Advisors LLC raised its holdings in shares of PACCAR by 7.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 3,532 shares of the company’s stock valued at $336,000 after purchasing an additional 232 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of PACCAR by 7.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 128,749 shares of the company’s stock worth $12,239,000 after purchasing an additional 8,825 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of PACCAR by 39.6% in the 2nd quarter. SG Americas Securities LLC now owns 21,068 shares of the company’s stock worth $2,003,000 after purchasing an additional 5,979 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the transaction, the executive vice president directly owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the transaction, the executive vice president owned 12,592 shares of the company’s stock, valued at approximately $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 133,105 shares of company stock worth $16,869,046 in the last quarter. 2.02% of the stock is owned by insiders.

PACCAR Trading Up 0.3%

NASDAQ PCAR opened at $115.63 on Tuesday. The company has a fifty day simple moving average of $122.84 and a two-hundred day simple moving average of $109.40. The stock has a market cap of $60.81 billion, a P/E ratio of 25.64, a P/E/G ratio of 0.97 and a beta of 1.03. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the company earned $1.66 earnings per share. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. On average, analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

Analysts Set New Price Targets

PCAR has been the topic of several research reports. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Citigroup upped their target price on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Wells Fargo & Company set a $119.00 target price on PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. lifted their price target on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.50.

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.