Giovine Capital Group Lowers stake in PACCAR Inc (PCAR)

PACCAR Inc (PCAR) : Giovine Capital Group reduced its stake in PACCAR Inc by 48.2% during the most recent quarter end. The investment management company now holds a total of 33,882 shares of PACCAR Inc which is valued at $1.9 Million after selling 31,525 shares in PACCAR Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.PACCAR Inc makes up approximately 2.70% of Giovine Capital Group’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in PCAR in the latest quarter, The investment management firm added 348,789 additional shares and now holds a total of 545,740 shares of PACCAR Inc which is valued at $30.6 Million. PACCAR Inc makes up approx 0.21% of Teacher Retirement System Of Texas’s portfolio.Kcm Investment Advisors reduced its stake in PCAR by selling 448 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 28,395 shares of PCAR which is valued at $1.6 Million. PACCAR Inc makes up approx 0.12% of Kcm Investment Advisors’s portfolio.Advantus Capital Management Inc reduced its stake in PCAR by selling 52 shares or 0.15% in the most recent quarter. The Hedge Fund company now holds 33,744 shares of PCAR which is valued at $1.9 Million. PACCAR Inc makes up approx 0.06% of Advantus Capital Management Inc’s portfolio.Baillie Gifford Co boosted its stake in PCAR in the latest quarter, The investment management firm added 18,881 additional shares and now holds a total of 184,247 shares of PACCAR Inc which is valued at $10.2 Million. PACCAR Inc makes up approx 0.02% of Baillie Gifford Co’s portfolio.Swiss National Bank boosted its stake in PCAR in the latest quarter, The investment management firm added 273,400 additional shares and now holds a total of 918,405 shares of PACCAR Inc which is valued at $51 Million. PACCAR Inc makes up approx 0.09% of Swiss National Bank’s portfolio.

PACCAR Inc opened for trading at $56.13 and hit $57.23 on the upside on Monday, eventually ending the session at $57.01, with a gain of 1.77% or 0.99 points. The heightened volatility saw the trading volume jump to 19,65,592 shares. Company has a market cap of $19,980 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.

Many Wall Street Analysts have commented on PACCAR Inc. PACCAR Inc was Upgraded by BofA/Merrill to ” Buy” on May 9, 2016. 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 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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