Barclays PLC Purchases 306,043 Shares of PACCAR Inc. $PCAR

Key Points

• Barclays PLC increased its PACCAR stake by 14% in Q3, buying 306,043 shares and bringing its total to 2,492,633 shares—about 0.47% of the company valued at roughly $245.1 million.
• PACCAR's recent quarter showed EPS of $1.06 (in line with estimates) and revenue of $6.82 billion (beat consensus) despite revenue falling 15.1% year-over-year; the stock trades at a P/E of 26.7 with a market cap near $63.3 billion.
• Insiders have been net sellers (133,105 shares, ~$16.9M, in the last 90 days), the company paid a quarterly dividend of $0.33 (annualized $1.32, ~1.1% yield), and institutional ownership stands at about 64.9%.

Barclays PLC grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 14.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,492,633 shares of the company's stock after purchasing an additional 306,043 shares during the quarter. Barclays PLC owned approximately 0.47% of PACCAR worth $245,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC raised its position in PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company's stock worth $28,000 after acquiring an additional 211 shares during the period. AlphaQuest LLC bought a new stake in shares of PACCAR during the 3rd quarter valued at $38,000. Westside Investment Management Inc. increased its stake in shares of PACCAR by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company's stock worth $42,000 after purchasing an additional 216 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of PACCAR by 43.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock worth $42,000 after purchasing an additional 134 shares in the last quarter. Finally, Rothschild Investment LLC raised its holdings in PACCAR by 121.4% in the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company's stock worth $81,000 after purchasing an additional 454 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $120.43 on Friday. 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 fifty day moving average price of $122.05 and a 200 day moving average price of $108.53. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $131.88. The firm has a market cap of $63.33 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 1.03 and a beta of 1.03.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.06. The company had revenue of $6.82 billion for 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%. PACCAR's revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.66 EPS. As a group, sell-side analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, February 11th. PACCAR's payout ratio is currently 29.27%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on PACCAR from $133.00 to $142.00 and gave the company an "overweight" rating in a research report on Wednesday, January 14th. Citigroup upped their price target on PACCAR from $120.00 to $125.00 and gave the stock a "neutral" rating in a research report on Thursday, January 29th. Wells Fargo & Company set a $119.00 price objective on PACCAR and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. Morgan Stanley set a $109.00 price objective on PACCAR and gave the company an "equal weight" rating in a research report on Tuesday, February 3rd. Finally, Truist Financial increased their target price on shares of PACCAR from $108.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, PACCAR has an average rating of "Hold" and a consensus target price of $116.50.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the transaction, the chief financial officer directly owned 903 shares in the company, valued at approximately $117,760.23. This represents a 70.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the executive vice president directly owned 12,592 shares of the company's stock, valued at approximately $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 133,105 shares of company stock valued at $16,869,046 in the last 90 days. 2.02% of the stock is currently owned by insiders.

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.

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