PACCAR Inc. $PCAR Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC cut its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 74.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,622 shares of the company’s stock after selling 7,650 shares during the period. Synergy Asset Management LLC’s holdings in PACCAR were worth $287,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fulton Bank N.A. increased its holdings in 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 last quarter. Foundations Investment Advisors LLC lifted its stake in PACCAR by 3.1% during the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock worth $358,000 after purchasing an additional 108 shares in the last quarter. Matrix Trust Co lifted its stake in PACCAR by 3.9% during the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock worth $290,000 after purchasing an additional 110 shares in the last quarter. Forbes J M & Co. LLP boosted its position in shares of PACCAR by 4.3% during the third quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock worth $262,000 after buying an additional 111 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of PACCAR by 1.6% during the third 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. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 transaction, the chief financial officer directly owned 903 shares in the company, valued at $117,760.23. This represents a 70.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the sale, the executive vice president directly owned 12,592 shares in the company, valued at approximately $1,593,265.76. The trade was a 43.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 133,105 shares of company stock valued at $16,869,046 over the last three months. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley set a $109.00 price objective on PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. JPMorgan Chase & Co. lifted their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Truist Financial boosted their price target on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.18.

PACCAR Stock Down 2.2%

Shares of PACCAR stock opened at $112.75 on Friday. 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 52-week low of $84.65 and a 52-week high of $131.88. The company has a market capitalization of $59.34 billion, a P/E ratio of 25.00, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a 50 day moving average of $122.03 and a 200 day moving average of $110.23.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the firm posted $1.66 EPS. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. As a group, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

About PACCAR

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.