Biltmore Wealth Management Lowers stake in PACCAR Inc (PCAR)

PACCAR Inc (PCAR) : Biltmore Wealth Management reduced its stake in PACCAR Inc by 1.59% during the most recent quarter end. The investment management company now holds a total of 12,120 shares of PACCAR Inc which is valued at $676,054 after selling 196 shares in PACCAR Inc , the firm said in a disclosure report filed with the SEC on Apr 14, 2016.PACCAR Inc makes up approximately 0.57% of Biltmore Wealth Management’s portfolio.

PACCAR Inc opened for trading at $55.65 and hit $56.08 on the upside on Monday, eventually ending the session at $55.92, with a gain of 0.25% or 0.14 points. The heightened volatility saw the trading volume jump to 25,21,760 shares. Company has a market cap of $19,656 M.

Other Hedge Funds, Including , Kanaly Trust Co sold out all of its stake in PCAR during the most recent quarter. The investment firm sold 76 shares of PCAR which is valued $4,239.Exxonmobil Investment Management Inc Tx boosted its stake in PCAR in the latest quarter, The investment management firm added 6,323 additional shares and now holds a total of 85,547 shares of PACCAR Inc which is valued at $4,771,812. PACCAR Inc makes up approx 0.11% of Exxonmobil Investment Management Inc Tx’s portfolio.Dnb Asset Management As boosted its stake in PCAR in the latest quarter, The investment management firm added 10,300 additional shares and now holds a total of 31,043 shares of PACCAR Inc which is valued at $1,731,579. PACCAR Inc makes up approx 0.04% of Dnb Asset Management As’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in PCAR in the latest quarter, The investment management firm added 10,617 additional shares and now holds a total of 83,341 shares of PACCAR Inc which is valued at $4,648,761. PACCAR Inc makes up approx 0.11% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.

On the company’s financial health, PACCAR Inc reported $0.98 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jan 29, 2016. Analyst had a consensus of $1.03. The company had revenue of $4062.50 million for the quarter, compared to analysts expectations of $4174.50 million. The company’s revenue was down -15.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.11 EPS.

Many Wall Street Analysts have commented on PACCAR Inc. PACCAR Inc was Downgraded by Macquarie to ” Neutral” on Apr 11, 2016. PACCAR Inc was Downgraded by Citigroup to ” Neutral” on Jan 25, 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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