Capital Research Global Investors Has $587.08 Million Stake in PACCAR Inc. $PCAR

Capital Research Global Investors boosted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 20.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,971,153 shares of the company’s stock after purchasing an additional 1,009,134 shares during the quarter. Capital Research Global Investors owned 1.14% of PACCAR worth $587,084,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Capital World Investors raised its stake in PACCAR by 11,269.8% during the 3rd quarter. Capital World Investors now owns 807,712 shares of the company’s stock worth $79,414,000 after buying an additional 800,608 shares during the period. Bank of Montreal Can lifted its holdings in shares of PACCAR by 17.7% during the 3rd quarter. Bank of Montreal Can now owns 424,768 shares of the company’s stock valued at $41,763,000 after purchasing an additional 63,850 shares in the last quarter. Banque Cantonale Vaudoise grew its position in shares of PACCAR by 2.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 13,594 shares of the company’s stock valued at $1,336,000 after purchasing an additional 294 shares during the period. Schroder Investment Management Group increased its stake in PACCAR by 9.0% during the 3rd quarter. Schroder Investment Management Group now owns 91,441 shares of the company’s stock worth $8,990,000 after purchasing an additional 7,562 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in PACCAR by 1.6% during the 3rd quarter. Parallel Advisors LLC now owns 7,715 shares of the company’s stock worth $759,000 after buying an additional 118 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Citigroup upped their target price on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Truist Financial raised their price objective on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average price target of $116.50.

PACCAR Stock Performance

NASDAQ:PCAR opened at $119.02 on Wednesday. The firm has a market capitalization of $62.59 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.01 and a beta of 1.03. The company has a fifty day moving average of $122.39 and a 200-day moving average of $108.96. 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 Inc. has a twelve month low of $84.65 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced 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 return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. PACCAR’s revenue was down 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 903 shares in the company, valued at $117,760.23. This represents a 70.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP C Michael Dozier sold 79,076 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This trade represents a 69.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 133,105 shares of company stock valued at $16,869,046. 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.