PACCAR Inc. $PCAR Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group grew its Q4 position in PACCAR by 0.6% to 63,475,226 shares, now owning 12.09% of the company (about $6.95 billion), and institutional investors collectively hold roughly 64.9% of PCAR.
• PACCAR reported Q4 EPS of $1.06 (in line with estimates) and revenue of $6.82 billion (above estimates) despite revenue declining 15.1% year‑over‑year; the stock trades with a market cap near $66.8 billion and a P/E of 28.16.
• Company insiders have been net sellers (EVP sold 79,076 shares; insiders sold 133,105 shares worth ~$16.9M over 90 days), and analysts' consensus is a Hold with an average price target of $117.42.

Vanguard Group Inc. grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,475,226 shares of the company's stock after buying an additional 363,782 shares during the quarter. Vanguard Group Inc. owned 12.09% of PACCAR worth $6,951,172,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PCAR. Concurrent Investment Advisors LLC bought a new position in PACCAR during the 4th quarter valued at $226,000. Calamos Wealth Management LLC bought a new stake in shares of PACCAR in the 4th quarter worth about $229,000. China Universal Asset Management Co. Ltd. raised its stake in shares of PACCAR by 7.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,863 shares of the company's stock valued at $1,645,000 after purchasing an additional 1,001 shares in the last quarter. AGP Franklin LLC lifted its position in shares of PACCAR by 1.8% during the fourth quarter. AGP Franklin LLC now owns 19,171 shares of the company's stock worth $2,099,000 after purchasing an additional 342 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in PACCAR by 11.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,163 shares of the company's stock worth $237,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $127.00 on Monday. 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 firm's 50-day moving average price is $121.31 and its two-hundred day moving average price is $113.75. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The stock has a market capitalization of $66.84 billion, a P/E ratio of 28.16, a P/E/G ratio of 1.06 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, meeting the consensus estimate of $1.06. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business's revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.66 earnings per share. As a group, sell-side analysts forecast that PACCAR Inc. will post 5.55 earnings per share for the current year.

Analysts Set New Price Targets

PCAR has been the topic of several research reports. BNP Paribas Exane initiated coverage on PACCAR in a research note on Tuesday, March 31st. They set a "neutral" rating and a $126.00 price objective on the stock. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the company an "equal weight" rating in a report on Friday, January 23rd. Citigroup upped their price target on PACCAR from $125.00 to $130.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. Finally, Truist Financial lifted their price objective 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 analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, PACCAR presently has an average rating of "Hold" and an average price target of $117.42.

Insider Buying and Selling at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the business's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the completion of the transaction, the executive vice president owned 34,656 shares of the company's stock, valued at approximately $4,433,195.52. The trade was a 69.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 2,200 shares of the business's stock in a transaction 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 directly owned 903 shares of the company's stock, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 133,105 shares of company stock worth $16,869,046. 1.99% of the stock is owned by company insiders.

About PACCAR

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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