Alliancebernstein L.P. acquired an additional 63,648 shares of
PACCAR Inc (NASDAQ:PCAR).
Paccar stocks have moved -1.6%, prompting discussions on investor strategy.
Jefferies gave PACCAR a hold rating, while the
AIA Group Ltd announced a $1.69 million stake in the company.
Schroder Investment Management Group sold 35,733 shares of PACCAR and the stock fell -1.3%. The company stock dipped even as the wider market surged. Noted investment firms like
O'Shaughnessy Asset Management and
Wellington Management Group LLP have increased their stakes in the firm. Meanwhile,
Citigroup has set a new price target for the company at $105.00. Top providers for PACCAR's operations were recognized, indicating an effective strategic direction. Share acquisitions by various firms including
Sei Investments Co., Norges Bank, and JPMorgan Chase & Co indicate continuing interest in the company. However, the company stock has been underperforming, despite strong annual revenues and net income. Possible reasons for this are a miss in Q4 sales targets and a lowering in price target by Jefferies. Their special dividend announcement following strong performance, and a strong Q3 performance, nevertheless, keep investors hopeful.
Paccar PCAR News Analytics from Mon, 07 Oct 2024 07:00:00 GMT to Sat, 05 Apr 2025 23:40:11 GMT -
Rating 6
- Innovation 8
- Information 7
- Rumor -9
