Sumitomo Mitsui Trust Group Inc. Sells 14,579 Shares of PACCAR Inc. $PCAR

Key Points

• Sumitomo Mitsui Trust Group trimmed its PACCAR stake by 1.0%, selling 14,579 shares and now holds 1,396,150 shares (about 0.27% of the company) valued at roughly $152.9 million per its latest 13F.
• Insiders have been net sellers — 133,105 shares sold in the last 90 days (including EVP C. Michael Dozier’s 79,076-share sale for about $10.1M) — leaving insiders with 1.99% ownership, while institutions own 64.90% of the stock.
• Analyst sentiment is mixed with an average rating of "Hold" and an average price target of $117, though some firms have raised targets (e.g., JPMorgan to $142, Truist to $120).

Sumitomo Mitsui Trust Group Inc. reduced its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,396,150 shares of the company's stock after selling 14,579 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of PACCAR worth $152,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Jackson Square Capital LLC grew its stake in shares of PACCAR by 3.5% in the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company's stock valued at $290,000 after purchasing an additional 90 shares during the period. First Pacific Financial grew its stake in shares of PACCAR by 11.1% in the 4th quarter. First Pacific Financial now owns 1,058 shares of the company's stock valued at $116,000 after purchasing an additional 106 shares during the period. Fulton Bank N.A. grew its stake in shares of PACCAR by 3.2% in the 4th quarter. Fulton Bank N.A. now owns 3,458 shares of the company's stock valued at $379,000 after purchasing an additional 107 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of PACCAR by 3.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company's stock valued at $358,000 after purchasing an additional 108 shares during the period. Finally, Matrix Trust Co grew its stake in shares of PACCAR by 3.9% in the 3rd quarter. Matrix Trust Co now owns 2,948 shares of the company's stock valued at $290,000 after purchasing an additional 110 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PACCAR news, EVP C Michael Dozier sold 79,076 shares of the business's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president directly 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 is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 2,200 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the transaction, the chief financial officer directly owned 903 shares of the company's stock, valued at approximately $117,760.23. This represents a 70.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 133,105 shares of company stock valued at $16,869,046. Insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent analyst reports. Truist Financial boosted 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. 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. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $133.00 to $142.00 and gave the company an "overweight" rating in a research report on Wednesday, January 14th. Finally, BNP Paribas Exane initiated 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. One research 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $117.00.

PACCAR Price Performance

NASDAQ:PCAR opened at $127.19 on Monday. The firm has a market cap of $66.94 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88. 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 company's 50-day moving average price is $121.53 and its two-hundred day moving average price is $111.77.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting 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 for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the business earned $1.66 earnings per share. The company's revenue for the quarter was down 15.1% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR Inc. will post 7.57 EPS 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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