PACCAR Inc. $PCAR Shares Sold by M&T Bank Corp

Key Points

• M&T Bank Corp cut its PACCAR stake by 42.0% in Q4, selling 84,653 shares and leaving 116,948 shares worth about $12.8 million.
• PACCAR reported Q4 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.
• Insiders have been net sellers, disposing of 133,105 shares (~$16.87 million) over the past 90 days, including sizable sales by EVP Kevin Baney and CFO Brice Poplawski.

M&T Bank Corp reduced its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 42.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,948 shares of the company's stock after selling 84,653 shares during the quarter. M&T Bank Corp's holdings in PACCAR were worth $12,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PCAR. California Public Employees Retirement System raised its stake in PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company's stock worth $105,725,000 after purchasing an additional 9,045 shares during the period. National Pension Service raised its stake in PACCAR by 5.5% during the third quarter. National Pension Service now owns 939,146 shares of the company's stock worth $92,337,000 after purchasing an additional 48,711 shares during the period. AE Wealth Management LLC raised its stake in PACCAR by 29.1% during the third quarter. AE Wealth Management LLC now owns 39,594 shares of the company's stock worth $3,893,000 after purchasing an additional 8,932 shares during the period. Vanguard Group Inc. raised its stake in PACCAR by 0.8% during the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company's stock worth $6,205,117,000 after purchasing an additional 485,678 shares during the period. Finally, Nordea Investment Management AB raised its stake in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company's stock worth $13,487,000 after purchasing an additional 13,668 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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 firm has a fifty day moving average of $121.31 and a 200-day moving average of $113.31. The firm has a market capitalization of $66.82 billion, a P/E ratio of 28.15, a PEG ratio of 1.05 and a beta of 1.06. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the prior year, the business earned $1.66 earnings per share. The business's quarterly revenue was down 15.1% compared to the same quarter last year. As a group, analysts predict that PACCAR Inc. will post 5.55 EPS for the current year.

Insider Buying and Selling

In other news, EVP Kevin D. Baney sold 9,672 shares of the stock in a transaction dated 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 owned 12,592 shares in the company, valued at approximately $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares of the company's stock, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 133,105 shares of company stock valued at $16,869,046. 1.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PCAR shares. Citigroup increased their price target on shares of PACCAR from $125.00 to $130.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. Truist Financial raised their price objective on PACCAR from $108.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, January 28th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Finally, Wells Fargo & Company set a $119.00 price objective on PACCAR and gave the stock an "equal weight" rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.