PACCAR Inc. $PCAR Shares Acquired by Capital World Investors

Capital World Investors grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 11,269.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 807,712 shares of the company’s stock after purchasing an additional 800,608 shares during the period. Capital World Investors’ holdings in PACCAR were worth $79,414,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in PACCAR by 0.8% in the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock valued at $6,205,117,000 after buying an additional 485,678 shares in the last quarter. State Street Corp boosted its stake in shares of PACCAR by 1.0% during the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock worth $2,142,139,000 after acquiring an additional 218,188 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PACCAR by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after acquiring an additional 159,632 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PACCAR by 25.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after acquiring an additional 1,165,443 shares during the period. Finally, Invesco Ltd. increased its stake in PACCAR by 5.0% in the 2nd quarter. Invesco Ltd. now owns 5,212,386 shares of the company’s stock valued at $495,489,000 after purchasing an additional 246,410 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. 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. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Finally, Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $116.50.

PACCAR Stock Down 1.1%

Shares of NASDAQ:PCAR opened at $116.82 on Friday. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88. The stock’s 50-day moving average price is $122.71 and its two-hundred day moving average price is $109.08. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 0.99 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.66 EPS. On average, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

Insider Activity at PACCAR

In other PACCAR news, 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 value of $286,902.00. Following the transaction, the chief financial officer owned 903 shares in the company, valued at $117,760.23. The trade was a 70.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin D. Baney sold 9,672 shares of the business’s 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 133,105 shares of company stock valued at $16,869,046 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

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.