Washington Trust Bank Lowers stake in PACCAR Inc (PCAR)

PACCAR Inc (PCAR) : Washington Trust Bank reduced its stake in PACCAR Inc by 0.01% during the most recent quarter end. The investment management company now holds a total of 1,809,375 shares of PACCAR Inc which is valued at $106,590,281 after selling 100 shares in PACCAR Inc , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.PACCAR Inc makes up approximately 26.93% of Washington Trust Bank’s portfolio.

PACCAR Inc closed down -0.24 points or -0.41% at $58.67 with 23,27,138 shares getting traded on Monday. Post opening the session at $59.17, the shares hit an intraday low of $58.39 and an intraday high of $59.36 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Louisiana State Employees Retirement System reduced its stake in PCAR by selling 1,300 shares or 5.24% in the most recent quarter. The Hedge Fund company now holds 23,500 shares of PCAR which is valued at $1,384,385. PACCAR Inc makes up approx 0.07% of Louisiana State Employees Retirement System’s portfolio. Crestpoint Capital Management added PCAR to its portfolio by purchasing 11,400 company shares during the most recent quarter which is valued at $635,892. PACCAR Inc makes up approx 0.34% of Crestpoint Capital Management’s portfolio.Benjamin F. Edwards Company reduced its stake in PCAR by selling 300 shares or 11.66% in the most recent quarter. The Hedge Fund company now holds 2,274 shares of PCAR which is valued at $126,844. PACCAR Inc makes up approx 0.03% of Benjamin F. Edwards Company’s portfolio.Heritage Investors Management Corp boosted its stake in PCAR in the latest quarter, The investment management firm added 10,959 additional shares and now holds a total of 283,306 shares of PACCAR Inc which is valued at $15,802,809. PACCAR Inc makes up approx 1.20% of Heritage Investors Management Corp’s portfolio. Central Bank Trust Co sold out all of its stake in PCAR during the most recent quarter. The investment firm sold 161 shares of PCAR which is valued $8,981.

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.

Many Wall Street Analysts have commented on PACCAR Inc. Company shares were Upgraded by Robert W. Baird on Apr 27, 2016 to ” Outperform”, Firm has raised the Price Target to $ 66 from a previous price target of $62 .Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 53 from a previous price target of $52 .PACCAR Inc was Downgraded by Macquarie to ” Neutral” on Apr 11, 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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