Meeder Asset Management Inc. Has $2.95 Million Position in PACCAR Inc (PCAR)

Meeder Asset Management Inc. decreased its holdings in PACCAR Inc (NASDAQ:PCAR) by 45.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,320 shares of the company’s stock after selling 35,383 shares during the quarter. Meeder Asset Management Inc.’s holdings in PACCAR were worth $2,953,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its stake in shares of PACCAR by 7.8% in the fourth quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock worth $1,445,476,000 after purchasing an additional 1,830,638 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of PACCAR by 7,876.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,701,443 shares of the company’s stock worth $135,000 after purchasing an additional 7,604,885 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of PACCAR by 33.3% in the third quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock worth $410,954,000 after purchasing an additional 1,505,929 shares during the last quarter. Norges Bank bought a new stake in shares of PACCAR in the fourth quarter worth $333,867,000. Finally, Geode Capital Management LLC grew its stake in shares of PACCAR by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock worth $289,187,000 after purchasing an additional 350,337 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

In related news, SVP Darrin C. Siver sold 8,088 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $68.81, for a total value of $556,535.28. Following the transaction, the senior vice president now owns 24,335 shares in the company, valued at $1,674,491.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP David J. Danforth sold 1,500 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $64.99, for a total transaction of $97,485.00. Following the transaction, the vice president now owns 6,571 shares in the company, valued at approximately $427,049.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,989 shares of company stock worth $4,160,345. 2.32% of the stock is owned by company insiders.

Several brokerages recently weighed in on PCAR. BidaskClub cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Tuesday. Piper Jaffray Companies boosted their price objective on shares of PACCAR to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 5th. They noted that the move was a valuation call. Vertical Research cut shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. Finally, Robert W. Baird upgraded shares of PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 target price on the stock in a report on Thursday, February 7th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $67.73.

PCAR stock opened at $71.43 on Wednesday. The firm has a market capitalization of $24.40 billion, a P/E ratio of 11.45, a PEG ratio of 1.30 and a beta of 1.24. The company has a current ratio of 2.33, a quick ratio of 2.18 and a debt-to-equity ratio of 0.75. PACCAR Inc has a 12-month low of $53.43 and a 12-month high of $72.89.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 29th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.08. The business had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.71 billion. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. PACCAR’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. Equities analysts anticipate that PACCAR Inc will post 6.43 earnings per share for the current fiscal year.

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PACCAR Profile

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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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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