PACCAR Inc. $PCAR Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in PACCAR by 18.7% in Q4, buying 40,530 shares to own 256,757 shares worth about $28.12 million after the purchase.
• PACCAR's latest quarter showed EPS of $1.06 (in line with estimates) and revenue of $6.82 billion which beat expectations but was down 15.1% year‑over‑year, showing mixed operational results.
• Analyst sentiment is mixed with a consensus rating of "Hold" and an average target of $117.42, though some firms raised targets (JPMorgan to $142) and the coverage includes 1 Strong Buy, 4 Buy and 12 Hold ratings.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 18.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,757 shares of the company's stock after purchasing an additional 40,530 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in PACCAR were worth $28,117,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PCAR. Private Wealth Management Group LLC lifted its position in PACCAR by 293.1% during the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company's stock worth $28,000 after buying an additional 211 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in PACCAR in the 3rd quarter valued at $32,000. AlphaQuest LLC acquired a new stake in shares of PACCAR in the 3rd quarter worth $38,000. True Wealth Design LLC increased its stake in shares of PACCAR by 61.1% in the 4th quarter. True Wealth Design LLC now owns 364 shares of the company's stock worth $40,000 after acquiring an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of PACCAR by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 432 shares of the company's stock worth $42,000 after acquiring an additional 216 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Price Performance

PACCAR stock opened at $126.25 on Friday. The company's 50 day simple moving average is $121.35 and its 200-day simple moving average is $112.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $131.88. The company has a market capitalization of $66.44 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.06 billion. During the same quarter last year, the company posted $1.66 EPS. The firm's quarterly revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PCAR shares. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $133.00 to $142.00 and gave the company an "overweight" rating in a report on Wednesday, January 14th. Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the company an "equal weight" rating in a report on Friday, January 23rd. BNP Paribas Exane assumed coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 price target for the company. Sanford C. Bernstein restated an "outperform" rating on shares of PACCAR in a report on Tuesday, February 24th. Finally, Citigroup lifted their price target on shares of PACCAR from $125.00 to $130.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. 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 stock. According to MarketBeat, PACCAR currently has a consensus rating of "Hold" and an average target price of $117.42.

Insider Activity at PACCAR

In other news, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the sale, 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 sale was disclosed in a filing 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 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 in the company, valued at $768,125.82. This represents a 66.01% decrease in their position. 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 over the last ninety days. 1.99% of the stock is owned by insiders.

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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