8,473 Shares in PACCAR Inc. $PCAR Acquired by Mangrove Partners IM LLC

Mangrove Partners IM LLC acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,473 shares of the company’s stock, valued at approximately $833,000.

A number of other hedge funds have also recently bought and sold shares of the company. Private Wealth Management Group LLC increased its stake in shares of PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 211 shares during the period. Wealth Watch Advisors INC bought a new stake in shares of PACCAR during the third quarter worth $32,000. AlphaQuest LLC acquired a new position in shares of PACCAR during the third quarter valued at $38,000. Westside Investment Management Inc. lifted its stake in shares of PACCAR by 100.0% during the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the period. Finally, Rothschild Investment LLC boosted its holdings in PACCAR by 121.4% in the third quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock valued at $81,000 after acquiring an additional 454 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research reports. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Finally, Truist Financial boosted their price target on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $116.50.

Insider Activity at PACCAR

In related news, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the sale, the executive vice president directly owned 12,592 shares in the company, valued at $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 9,258 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the completion of the sale, the chief executive officer directly owned 258,566 shares in the company, valued at $33,536,010.20. This represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 133,105 shares of company stock valued at $16,869,046 over the last three months. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $115.34 on Friday. The stock has a 50 day simple moving average of $122.79 and a 200 day simple moving average of $109.18. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The firm has a market capitalization of $60.66 billion, a PE ratio of 25.57, a P/E/G ratio of 0.98 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same period last year, the company posted $1.66 EPS. The business’s quarterly revenue was down 15.1% on a year-over-year basis. Sell-side analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.