Evergreen Capital Management LLC Increases Stake in PACCAR Inc. $PCAR

Evergreen Capital Management LLC raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 793,659 shares of the company’s stock after acquiring an additional 16,906 shares during the period. PACCAR makes up 1.9% of Evergreen Capital Management LLC’s holdings, making the stock its 6th largest position. Evergreen Capital Management LLC owned 0.15% of PACCAR worth $78,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its holdings in PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Private Wealth Management Group LLC increased its stake in shares of 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 last quarter. Hantz Financial Services Inc. raised its position in shares of PACCAR by 43.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares during the period. Marshall & Sullivan Inc. WA bought a new position in PACCAR during the 2nd quarter worth approximately $43,000. Finally, Trust Co. of Toledo NA OH acquired a new position in PACCAR during the second quarter valued at approximately $62,000. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PCAR. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group set a $103.00 price objective on PACCAR and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $125.00 price objective on shares of PACCAR in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.33.

PACCAR Stock Down 0.5%

PCAR stock opened at $121.36 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91. The stock has a market capitalization of $63.74 billion, a P/E ratio of 23.75, a P/E/G ratio of 15.03 and a beta of 1.01. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $122.65. The business has a 50-day moving average of $108.94 and a 200-day moving average of $102.00.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company’s revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. On average, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio is presently 25.83%.

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.