Capital Research Global Investors Increases Stock Position in PACCAR Inc. $PCAR

Capital Research Global Investors raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 20.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,971,153 shares of the company’s stock after purchasing an additional 1,009,134 shares during the quarter. Capital Research Global Investors’ holdings in PACCAR were worth $587,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after buying an additional 1,812 shares in the last quarter. Savant Capital LLC lifted its position in PACCAR by 7.4% in the 2nd quarter. Savant Capital LLC now owns 13,743 shares of the company’s stock worth $1,306,000 after buying an additional 945 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of PACCAR by 12.2% in the 2nd quarter. Penserra Capital Management LLC now owns 2,851 shares of the company’s stock worth $270,000 after acquiring an additional 309 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in PACCAR during the second quarter valued at about $287,000. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Finally, Truist Financial increased their price target on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $116.50.

Insider Buying and Selling

In other PACCAR news, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total value of $1,223,798.16. Following the transaction, the executive vice president directly owned 12,592 shares of the company’s stock, valued at approximately $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares of the company’s stock, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 133,105 shares of company stock valued at $16,869,046 over the last quarter. 2.02% of the stock is owned by company insiders.

PACCAR Trading Down 1.4%

Shares of NASDAQ PCAR opened at $119.02 on Wednesday. The business’s 50 day moving average is $122.39 and its two-hundred day moving average is $108.96. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $131.88. The stock has a market capitalization of $62.59 billion, a P/E ratio of 26.39, a PEG ratio of 1.01 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 earnings per share. As a group, research analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Profile

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.