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

Harbour Investment Management LLC cut its stake in PACCAR Inc. (NASDAQ:PCAR) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,029 shares of the company’s stock after selling 7,131 shares during the quarter. PACCAR makes up approximately 1.9% of Harbour Investment Management LLC’s investment portfolio, making the stock its 11th largest holding. Harbour Investment Management LLC’s holdings in PACCAR were worth $4,329,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PCAR. Private Wealth Management Group LLC raised its holdings in PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the period. Wealth Watch Advisors INC acquired a new stake in PACCAR during the third quarter worth approximately $32,000. AlphaQuest LLC bought a new stake in shares of PACCAR during the third quarter worth approximately $38,000. Westside Investment Management Inc. boosted its holdings in shares of PACCAR by 100.0% during the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares during the period. Finally, Rothschild Investment LLC grew its position in shares of PACCAR by 121.4% in the third quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock valued at $81,000 after purchasing an additional 454 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 2,200 shares of the firm’s 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 transaction, the chief financial officer owned 903 shares in the company, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business’s stock in a transaction dated 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 directly owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. This trade represents a 66.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 133,105 shares of company stock worth $16,869,046 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Down 0.6%

Shares of NASDAQ:PCAR opened at $114.69 on Thursday. The company has a market capitalization of $60.31 billion, a P/E ratio of 25.43, a P/E/G ratio of 0.97 and a beta of 1.03. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $131.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. The business’s 50 day simple moving average is $122.80 and its 200 day simple moving average is $109.55.

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

Analysts Set New Price Targets

Several research firms recently weighed in on PCAR. JPMorgan Chase & Co. lifted their price target on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Citigroup upped their price objective on 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 PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Truist Financial upped their price target on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.18.

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.