PACCAR Inc. $PCAR Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC cut its stake in PACCAR Inc. (NASDAQ:PCAR) by 54.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,548 shares of the company’s stock after selling 23,706 shares during the period. Richard Bernstein Advisors LLC’s holdings in PACCAR were worth $1,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC grew its stake in PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 211 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at $38,000. Westside Investment Management Inc. raised its position in PACCAR by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares during the last quarter. Rothschild Investment LLC boosted its stake in PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after purchasing an additional 454 shares during the period. Finally, Cloud Capital Management LLC purchased a new position in PACCAR during the 3rd quarter worth $82,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of 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. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88. The stock has a market cap of $63.46 billion, a P/E ratio of 26.76, a PEG ratio of 1.01 and a beta of 1.03. The company has a 50-day moving average of $122.23 and a two-hundred day moving average of $108.83.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the prior year, the company earned $1.66 EPS. PACCAR’s revenue was down 15.1% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on PCAR shares. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup raised their target price on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $116.50.

Insider Activity

In other news, EVP Kevin D. Baney sold 9,672 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were 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 $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business’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 transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 133,105 shares of company stock worth $16,869,046 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Company Profile

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.