Point72 Hong Kong Ltd Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)
Point72 Hong Kong Ltd raised its holdings in PACCAR Inc (NASDAQ:PCAR) by 30.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,335 shares of the company’s stock after purchasing an additional 780 shares during the period. Point72 Hong Kong Ltd’s holdings in PACCAR were worth $264,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Voya Investment Management LLC grew its stake in PACCAR by 4.7% in the 3rd quarter. Voya Investment Management LLC now owns 165,792 shares of the company’s stock valued at $11,607,000 after acquiring an additional 7,388 shares during the period. Chevy Chase Trust Holdings Inc. lifted its holdings in PACCAR by 0.3% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 291,392 shares of the company’s stock valued at $20,400,000 after purchasing an additional 806 shares in the last quarter. Boston Partners lifted its holdings in PACCAR by 1.6% during the third quarter. Boston Partners now owns 2,043,328 shares of the company’s stock valued at $143,135,000 after purchasing an additional 31,293 shares in the last quarter. Stifel Financial Corp lifted its holdings in PACCAR by 0.5% during the third quarter. Stifel Financial Corp now owns 65,955 shares of the company’s stock valued at $4,618,000 after purchasing an additional 346 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its position in shares of PACCAR by 34.9% in the third quarter. Pictet Asset Management Ltd. now owns 249,754 shares of the company’s stock valued at $17,485,000 after purchasing an additional 64,578 shares during the period. 63.90% of the stock is currently owned by institutional investors.
PCAR stock traded up $1.47 during mid-day trading on Thursday, reaching $60.45. The company’s stock had a trading volume of 2,744,451 shares, compared to its average volume of 2,320,822. The company has a current ratio of 2.32, a quick ratio of 2.19 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $67.88 and its two-hundred day moving average is $74.05. PACCAR Inc has a fifty-two week low of $49.11 and a fifty-two week high of $83.41. The stock has a market cap of $19.74 billion, a PE ratio of 8.80, a P/E/G ratio of 1.33 and a beta of 1.21.
PCAR has been the subject of a number of research reports. BidaskClub raised shares of PACCAR from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 17th. Morgan Stanley decreased their price target on shares of PACCAR from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday. Raymond James initiated coverage on PACCAR in a report on Wednesday, November 27th. They issued a “strong-buy” rating and a $90.00 price objective on the stock. Goldman Sachs Group cut their price objective on PACCAR from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Finally, Cowen raised PACCAR from an “underperform” rating to a “market perform” rating and reduced their target price for the company from $66.00 to $65.00 in a report on Monday, March 9th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PACCAR presently has a consensus rating of “Hold” and a consensus price target of $74.46.
In other PACCAR news, VP Todd R. Hubbard sold 403 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $74.47, for a total value of $30,011.41. Following the completion of the sale, the vice president now directly owns 2,902 shares in the company, valued at approximately $216,111.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Marco A. Davila sold 6,200 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $77.84, for a total value of $482,608.00. Following the completion of the sale, the vice president now owns 14,308 shares of the company’s stock, valued at $1,113,734.72. The disclosure for this sale can be found here. Company insiders own 2.18% of the company’s stock.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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