HB Wealth Management LLC Has $5.78 Million Position in PACCAR Inc. $PCAR

HB Wealth Management LLC lowered its holdings in PACCAR Inc. (NASDAQ:PCAR) by 9.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,808 shares of the company’s stock after selling 5,426 shares during the period. HB Wealth Management LLC’s holdings in PACCAR were worth $5,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in PACCAR by 0.8% in the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock worth $6,205,117,000 after purchasing an additional 485,678 shares in the last quarter. Capital Research Global Investors boosted its stake in PACCAR by 20.3% in the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after purchasing an additional 1,009,134 shares in the last quarter. Invesco Ltd. boosted its stake in PACCAR by 3.5% in the third quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock worth $530,622,000 after purchasing an additional 184,502 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in PACCAR by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 3,256,671 shares of the company’s stock worth $320,196,000 after purchasing an additional 22,941 shares in the last quarter. Finally, UBS Group AG boosted its stake in PACCAR by 28.7% in the third quarter. UBS Group AG now owns 2,608,601 shares of the company’s stock worth $256,478,000 after purchasing an additional 581,986 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, VP Paulo Henrique Bolgar sold 12,183 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This represents a 66.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 34,656 shares in the company, valued at $4,433,195.52. This trade represents a 69.53% 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 ninety days. Company insiders own 1.99% of the company’s stock.

PACCAR Trading Up 1.4%

Shares of PCAR opened at $126.97 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 12-month low of $84.65 and a 12-month high of $131.88. The firm has a market capitalization of $66.82 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.06. The stock’s fifty day simple moving average is $121.31 and its 200-day simple moving average is $113.31.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. As a group, research analysts predict that PACCAR Inc. will post 5.55 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on PCAR shares. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Citigroup boosted their price objective on PACCAR from $125.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Truist Financial boosted their price objective on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.42.

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.