Swiss Life Asset Management Ltd Decreases Position in PACCAR Inc. $PCAR

Swiss Life Asset Management Ltd trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 292,751 shares of the company’s stock after selling 9,578 shares during the period. Swiss Life Asset Management Ltd owned approximately 0.06% of PACCAR worth $28,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Private Wealth Management Group LLC lifted its position in PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 211 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in PACCAR during the third quarter worth $32,000. AlphaQuest LLC bought a new position in PACCAR during the third quarter valued at $38,000. Westside Investment Management Inc. raised its stake in shares of PACCAR by 100.0% in the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock valued at $42,000 after acquiring an additional 216 shares during the period. Finally, Rothschild Investment LLC raised its stake in shares of PACCAR by 121.4% in the third quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock valued at $81,000 after acquiring an additional 454 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 2,200 shares of the firm’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 9,258 shares of PACCAR stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. This represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup lifted their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research report 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. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Truist Financial upped their target price on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus target price of $116.18.

PACCAR Trading Down 0.6%

NASDAQ PCAR opened at $114.69 on Thursday. The company’s 50-day moving average price is $122.80 and its 200-day moving average price is $109.55. 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 stock has a market cap of $60.31 billion, a PE ratio of 25.43, a PEG ratio of 0.97 and a beta of 1.03. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates 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 net margin of 8.35% and a return on equity of 13.97%. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. Equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current 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.