Munich Reinsurance Co Stock Corp in Munich Reduces Position in PACCAR Inc. $PCAR

Key Points

• Munich Reinsurance Co Stock Corp in Munich cut its stake in PACCAR by 15.0% in Q4, selling 116,371 shares and leaving it with 661,042 shares (about 1.8% of its portfolio) valued at roughly $73.35 million, its 13th largest holding.
• Insiders have been net sellers, offloading 133,105 PACCAR shares worth $16.87 million over the past 90 days, including large sales by VP Paulo Henrique Bolgar and EVP C. Michael Dozier.
• PACCAR reported Q4 EPS of $1.06 (in line with estimates) and revenue of $6.82 billion (above expectations) but revenue was down 15.1% YoY; the stock trades near $127 with a consensus Hold rating and an average price target of $117.42.

Munich Reinsurance Co Stock Corp in Munich lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661,042 shares of the company's stock after selling 116,371 shares during the period. PACCAR comprises approximately 1.8% of Munich Reinsurance Co Stock Corp in Munich's investment portfolio, making the stock its 13th biggest position. Munich Reinsurance Co Stock Corp in Munich owned 0.13% of PACCAR worth $73,349,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Jackson Square Capital LLC raised its stake in shares of PACCAR by 3.5% during the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company's stock valued at $290,000 after acquiring an additional 90 shares in the last quarter. Lakeside Advisors INC. raised its stake in PACCAR by 0.3% in the fourth quarter. Lakeside Advisors INC. now owns 34,053 shares of the company's stock worth $3,729,000 after buying an additional 92 shares in the last quarter. First Pacific Financial raised its stake in PACCAR by 11.1% in the fourth quarter. First Pacific Financial now owns 1,058 shares of the company's stock worth $116,000 after buying an additional 106 shares in the last quarter. Fulton Bank N.A. raised its stake in PACCAR by 3.2% in the fourth quarter. Fulton Bank N.A. now owns 3,458 shares of the company's stock worth $379,000 after buying an additional 107 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in PACCAR by 3.1% in the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company's stock worth $358,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Trading Up 0.0%

NASDAQ:PCAR opened at $127.00 on Friday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $121.31 and a two-hundred day moving average price of $113.50. The company has a market cap of $66.84 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The company had revenue of $6.82 billion for the quarter, compared to analysts' expectations of $6.06 billion. During the same quarter in the prior year, the business posted $1.66 EPS. The business's revenue was down 15.1% compared to the same quarter last year. As a group, analysts expect that PACCAR Inc. will post 5.55 EPS for the current fiscal year.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 12,183 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares in the company, valued at $768,125.82. This trade represents a 66.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares in the company, valued at $4,433,195.52. The trade was a 69.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 133,105 shares of company stock worth $16,869,046. 1.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on PCAR shares. Truist Financial boosted their price objective 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. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an "equal weight" rating in a research report on Tuesday, February 3rd. Citigroup upped their price target on PACCAR from $125.00 to $130.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Sanford C. Bernstein reissued an "outperform" rating on shares of PACCAR in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the stock an "equal weight" rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and an average price target of $117.42.

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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