PACCAR Inc. $PCAR Shares Purchased by Merit Financial Group LLC

Key Points

• Merit Financial Group increased its stake in PACCAR by 165.8% in Q4 to 24,319 shares, worth about $2.66 million according to the latest SEC filing.
• Insiders have sold a combined 133,105 shares worth $16.87 million over the last three months (including sales by the CFO and a VP), leaving insiders with roughly 1.99% ownership.
• PACCAR carries a consensus "Hold" rating with a $117.42 average price target; the stock opened at $128.31 after reporting quarterly revenue of $6.82 billion (above estimates) but a 15.1% year-over-year revenue decline.

Merit Financial Group LLC increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 165.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,319 shares of the company's stock after purchasing an additional 15,169 shares during the quarter. Merit Financial Group LLC's holdings in PACCAR were worth $2,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. California Public Employees Retirement System raised its stake in shares of PACCAR by 0.8% during the 3rd quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company's stock worth $105,725,000 after buying an additional 9,045 shares during the last quarter. National Pension Service raised its stake in shares of PACCAR by 5.5% during the 3rd quarter. National Pension Service now owns 939,146 shares of the company's stock worth $92,337,000 after buying an additional 48,711 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of PACCAR by 29.1% during the 3rd quarter. AE Wealth Management LLC now owns 39,594 shares of the company's stock worth $3,893,000 after buying an additional 8,932 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PACCAR by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company's stock worth $6,205,117,000 after buying an additional 485,678 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of PACCAR by 12.6% during the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company's stock worth $13,487,000 after buying an additional 13,668 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the firm's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the firm's stock in a transaction dated 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 sale, the vice president directly owned 6,274 shares in the company, valued at $768,125.82. This represents a 66.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 133,105 shares of company stock worth $16,869,046 over the last three months. Company insiders own 1.99% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of several research reports. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of PACCAR in a research note on Tuesday, February 24th. Truist Financial lifted their price target on PACCAR from $108.00 to $120.00 and gave the stock a "hold" rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $117.42.

PACCAR Trading Up 1.6%

Shares of PCAR stock opened at $128.31 on Tuesday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88. The company has a market capitalization of $67.52 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.06 and a beta of 1.06. The firm has a 50-day moving average price of $121.37 and a 200 day moving average price of $112.93. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (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 company had revenue of $6.82 billion for the quarter, compared to analysts' expectations of $6.06 billion. During the same period last year, the company earned $1.66 EPS. The firm's revenue for the quarter was down 15.1% compared to the same quarter last year. Research analysts forecast that PACCAR Inc. will post 5.55 earnings per share for the current fiscal year.

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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