PACCAR Inc (PCAR) : Cornercap Investment Counsel Inc reduced its stake in PACCAR Inc by 2.84% during the most recent quarter end. The investment management company now holds a total of 136,220 shares of PACCAR Inc which is valued at $7,861,256 after selling 3,980 shares in PACCAR Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.PACCAR Inc makes up approximately 1.41% of Cornercap Investment Counsel Inc’s portfolio.
Other Hedge Funds, Including , Andra Ap-fonden reduced its stake in PCAR by selling 1,300 shares or 1.73% in the most recent quarter. The Hedge Fund company now holds 73,700 shares of PCAR which is valued at $4,253,227. PACCAR Inc makes up approx 0.11% of Andra Ap-fonden’s portfolio.First Personal Financial Services boosted its stake in PCAR in the latest quarter, The investment management firm added 335 additional shares and now holds a total of 415 shares of PACCAR Inc which is valued at $24,120. PACCAR Inc makes up approx 0.01% of First Personal Financial Services’s portfolio.Nwam boosted its stake in PCAR in the latest quarter, The investment management firm added 740 additional shares and now holds a total of 31,459 shares of PACCAR Inc which is valued at $1,823,364. PACCAR Inc makes up approx 0.70% of Nwam’s portfolio.Bristol John W Co Inc Ny reduced its stake in PCAR by selling 66,837 shares or 5.52% in the most recent quarter. The Hedge Fund company now holds 1,143,474 shares of PCAR which is valued at $62,365,072. PACCAR Inc makes up approx 1.70% of Bristol John W Co Inc Ny’s portfolio.
PACCAR Inc opened for trading at $59.85 and hit $60.52 on the upside on Monday, eventually ending the session at $60.28, with a gain of 0.72% or 0.43 points. The heightened volatility saw the trading volume jump to 11,39,319 shares. Company has a market cap of $21,130 M.
On the company’s financial health, PACCAR Inc reported $1.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.02. The company had revenue of $4115.80 million for the quarter, compared to analysts expectations of $4119.27 million. The company’s revenue was down -14.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.26 EPS.
Many Wall Street Analysts have commented on PACCAR Inc. Longbow Downgraded PACCAR Inc on Jul 19, 2016 to ” Underperform”, Price Target of the shares are set at $44.PACCAR Inc was Downgraded by JP Morgan to ” Underweight” on Jun 27, 2016. PACCAR Inc was Downgraded by Goldman to ” Neutral” on Jun 3, 2016.
PACCAR Inc is a company operating in three principal industry segments: the Truck segment includes the design manufacture and distribution of light- medium- and heavy-duty commercial trucks; the Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles and the Financial Services segment includes finance and leasing products and services provided to customers and dealers in the United States Canada Mexico Europe and Australia. The Company also operates in Australia and Brazil and sells trucks and parts to customers in Asia Africa Middle East and South America. The Companys trucks are marketed under the Kenworth Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.