Norris Perne & French LLP MI Boosts Position in PACCAR Inc. $PCAR

Key Points

• Norris Perne & French LLP MI raised its stake in PACCAR by 24% to 318,551 shares (worth about $34.9M), making PACCAR its 13th largest holding and roughly 0.06% of the company.
• Company insiders have been net sellers recently: CEO R. Preston Feight sold 9,258 shares at an average $129.70 and VP Paulo Henrique Bolgar sold 12,183 shares at $122.43, with insiders offloading 133,105 shares (~$16.87M) in the past 90 days; insiders now own 1.99% of stock.
• Wall Street's consensus is a Hold with an average target of $117.42, below the current ~$127.38 share price, while analyst ratings include one Strong Buy, four Buy and twelve Hold; PACCAR has a market cap of ~$67B and a P/E of 28.24.

Norris Perne & French LLP MI raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 24.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 318,551 shares of the company's stock after buying an additional 61,712 shares during the quarter. PACCAR comprises 2.3% of Norris Perne & French LLP MI's portfolio, making the stock its 13th largest holding. Norris Perne & French LLP MI owned approximately 0.06% of PACCAR worth $34,885,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Private Wealth Management Group LLC boosted its position in shares of PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company's stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in shares of PACCAR during the 3rd quarter valued at about $32,000. AlphaQuest LLC bought a new stake in shares of PACCAR during the 3rd quarter valued at about $38,000. True Wealth Design LLC boosted its position in shares of PACCAR by 61.1% during the 4th quarter. True Wealth Design LLC now owns 364 shares of the company's stock valued at $40,000 after acquiring an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its position in shares of PACCAR by 100.0% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 9,258 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the sale, the chief executive officer owned 258,566 shares in the company, valued at approximately $33,536,010.20. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business's stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the sale, the vice president owned 6,274 shares of the company's stock, valued at $768,125.82. The trade was a 66.01% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 133,105 shares of company stock valued at $16,869,046. Insiders own 1.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PCAR shares. Morgan Stanley set a $109.00 price target on 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 PACCAR and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. BNP Paribas Exane initiated coverage on PACCAR in a research report on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 target price for the company. Citigroup boosted their target price on PACCAR from $125.00 to $130.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of PACCAR in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $117.42.

PACCAR Stock Performance

NASDAQ:PCAR opened at $127.38 on Tuesday. The business has a 50 day moving average of $121.59 and a 200 day moving average of $111.99. The company has a market capitalization of $67.03 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.07 and a beta of 1.06. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $131.88. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. The business's revenue was down 15.1% on a year-over-year basis. On average, sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal 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.

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