Harbour Investment Management LLC Has $4.33 Million Stock Position in PACCAR Inc. $PCAR

Harbour Investment Management LLC cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 13.9% in the 3rd quarter, Holdings Channel reports. The firm owned 44,029 shares of the company’s stock after selling 7,131 shares during the period. PACCAR accounts for about 1.9% of Harbour Investment Management LLC’s holdings, making the stock its 11th largest position. Harbour Investment Management LLC’s holdings in PACCAR were worth $4,329,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of PACCAR by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock worth $6,205,117,000 after buying an additional 485,678 shares in the last quarter. State Street Corp boosted its stake in PACCAR by 1.0% in the second quarter. State Street Corp now owns 22,534,596 shares of the company’s stock valued at $2,142,139,000 after buying an additional 218,188 shares in the last quarter. Capital Research Global Investors boosted its stake in PACCAR by 20.3% in the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after buying an additional 1,009,134 shares in the last quarter. JPMorgan Chase & Co. grew its position in PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after acquiring an additional 1,165,443 shares during the last quarter. Finally, Invesco Ltd. raised its stake in PACCAR by 3.5% during the third quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock worth $530,622,000 after acquiring an additional 184,502 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Citigroup lifted their price target on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.18.

PACCAR Stock Performance

Shares of PCAR stock opened at $114.69 on Thursday. The firm has a market capitalization of $60.31 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 0.97 and a beta of 1.03. 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 business’s 50-day moving average price is $122.80 and its 200-day moving average price is $109.55. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 earnings per share. Equities research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the transaction, the chief financial officer directly owned 903 shares in the company, valued at approximately $117,760.23. This represents a 70.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the transaction, the executive vice president directly owned 34,656 shares of the company’s stock, valued at $4,433,195.52. The trade was a 69.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 133,105 shares of company stock worth $16,869,046. Company insiders own 2.02% of the company’s stock.

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.