PACCAR Inc (PCAR) Position Raised by Brandywine Global Investment Management LLC
Brandywine Global Investment Management LLC boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,399 shares of the company’s stock after purchasing an additional 7,915 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in PACCAR were worth $22,490,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jefferies Group LLC bought a new stake in shares of PACCAR in the fourth quarter worth about $3,506,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of PACCAR by 4.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 53,072 shares of the company’s stock worth $3,772,000 after acquiring an additional 2,090 shares in the last quarter. AMP Capital Investors Ltd increased its holdings in shares of PACCAR by 27.3% in the fourth quarter. AMP Capital Investors Ltd now owns 137,425 shares of the company’s stock worth $9,768,000 after acquiring an additional 29,479 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of PACCAR by 8.3% in the fourth quarter. Profund Advisors LLC now owns 29,905 shares of the company’s stock worth $2,126,000 after acquiring an additional 2,291 shares in the last quarter. Finally, MANA Advisors LLC bought a new stake in shares of PACCAR in the fourth quarter worth about $699,000. Institutional investors and hedge funds own 63.00% of the company’s stock.
In related news, VP Marco A. Davila purchased 570 shares of PACCAR stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average cost of $69.05 per share, with a total value of $39,358.50. Following the completion of the transaction, the vice president now owns 7,536 shares of the company’s stock, valued at approximately $520,360.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.64% of the company’s stock.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.12 by $0.06. PACCAR had a return on equity of 19.65% and a net margin of 8.61%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. equities analysts predict that PACCAR Inc will post 5.29 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. Susquehanna Bancshares set a $78.00 price target on PACCAR and gave the stock a “hold” rating in a report on Friday. Longbow Research upgraded PACCAR from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, March 6th. Morgan Stanley began coverage on PACCAR in a research report on Friday, March 2nd. They set an “underweight” rating and a $69.00 price objective for the company. ValuEngine raised PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $75.00 price objective (down from $80.00) on shares of PACCAR in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. PACCAR has an average rating of “Hold” and an average target price of $76.24.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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