Longer Investments buys $1,606,498 stake in PACCAR Inc (PCAR)

PACCAR Inc (PCAR) : Longer Investments scooped up 775 additional shares in PACCAR Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 29,225 shares of PACCAR Inc which is valued at $1,606,498.PACCAR Inc makes up approximately 1.71% of Longer Investments’s portfolio.

Other Hedge Funds, Including , First Quadrant L Pca added PCAR to its portfolio by purchasing 31,800 company shares during the most recent quarter which is valued at $1,748,046. PACCAR Inc makes up approx 0.04% of First Quadrant L Pca’s portfolio.Crestpoint Capital Management reduced its stake in PCAR by selling 1,500 shares or 13.16% in the most recent quarter. The Hedge Fund company now holds 9,900 shares of PCAR which is valued at $539,946. PACCAR Inc makes up approx 0.28% of Crestpoint Capital Management’s portfolio.Nisa Investment Advisors boosted its stake in PCAR in the latest quarter, The investment management firm added 5,705 additional shares and now holds a total of 169,559 shares of PACCAR Inc which is valued at $9,247,748. PACCAR Inc makes up approx 0.12% of Nisa Investment Advisors’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in PCAR in the latest quarter, The investment management firm added 5,170 additional shares and now holds a total of 90,717 shares of PACCAR Inc which is valued at $4,728,170. PACCAR Inc makes up approx 0.10% of Exxonmobil Investment Management Inc Tx’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PCAR by selling 74,393 shares or 63.12% in the most recent quarter. The Hedge Fund company now holds 43,467 shares of PCAR which is valued at $2,265,500. PACCAR Inc makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

PACCAR Inc opened for trading at $53.83 and hit $55.26 on the upside on Wednesday, eventually ending the session at $54.97, with a gain of 2.46% or 1.32 points. The heightened volatility saw the trading volume jump to 28,73,772 shares. Company has a market cap of $19,265 M.

On the company’s financial health, PACCAR Inc reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.96. The company had revenue of $4010.60 million for the quarter, compared to analysts expectations of $4051.19 million. The company’s revenue was down -11.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.06 EPS.

Investors should note that on Jul 11, 2016, PACCAR Inc announced a cash dividend of $0.2400. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 2, 2016.

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 Company’s trucks are marketed under the Kenworth Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.

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