OLD National Bancorp IN Buys 43,338 Shares of PACCAR Inc. $PCAR

Key Points

• OLD National Bancorp IN increased its stake in PACCAR by 2,128.6% in Q4, buying 43,338 shares to hold 45,374 shares worth about $4.97 million.
• Company insiders have been net sellers recently — the EVP sold 79,076 shares and the CFO sold 2,200 shares, with insiders offloading 133,105 shares worth roughly $16.87 million over the past 90 days (insiders now own 1.99%).
• PACCAR reported Q4 EPS of $1.06 (in line with estimates) and revenue of $6.82 billion (beating estimates but down 15.1% YoY); the stock trades near $127 with a market cap of $66.8B and carries an average analyst rating of "Hold" and a $117.42 average price target.

OLD National Bancorp IN lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2,128.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,374 shares of the company's stock after purchasing an additional 43,338 shares during the quarter. OLD National Bancorp IN's holdings in PACCAR were worth $4,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Caprock Group LLC boosted its position in shares of PACCAR by 14.2% during the 4th quarter. Caprock Group LLC now owns 28,123 shares of the company's stock worth $3,123,000 after purchasing an additional 3,503 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of PACCAR by 20.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 414,576 shares of the company's stock worth $46,057,000 after purchasing an additional 69,928 shares in the last quarter. Optas LLC boosted its position in shares of PACCAR by 6.5% during the 4th quarter. Optas LLC now owns 2,601 shares of the company's stock worth $285,000 after purchasing an additional 158 shares in the last quarter. Highview Capital Management LLC DE bought a new position in shares of PACCAR during the 4th quarter worth about $1,724,000. Finally, Lakeside Advisors INC. boosted its position in shares of PACCAR by 0.3% during the 4th quarter. Lakeside Advisors INC. now owns 34,053 shares of the company's stock worth $3,729,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

PACCAR Price Performance

PACCAR stock opened at $126.97 on Friday. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $131.88. The company's 50 day moving average price is $121.31 and its two-hundred day moving average price is $113.31. 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 stock has a market cap of $66.82 billion, a P/E ratio of 28.15, a P/E/G ratio of 1.05 and a beta of 1.06.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 analysts' expectations of $6.06 billion. During the same quarter last year, the firm earned $1.66 EPS. The company's quarterly revenue was down 15.1% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc. will post 5.55 earnings per share for the current year.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the transaction, the chief financial officer owned 903 shares of the company's stock, valued at $117,760.23. This trade represents a 70.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP C Michael Dozier sold 79,076 shares of PACCAR stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the transaction, the executive vice president directly owned 34,656 shares in the company, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 133,105 shares of company stock worth $16,869,046. Corporate insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PCAR. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. BNP Paribas Exane began coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 price target on the stock. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the company an "equal weight" rating in a research report on Tuesday, February 3rd. Finally, Truist Financial raised their price target on shares of PACCAR from $108.00 to $120.00 and gave the company a "hold" rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of "Hold" and an average price target of $117.42.

PACCAR Company 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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