Capital International Inc. CA Sells 6,646 Shares of PACCAR Inc. $PCAR

Capital International Inc. CA lessened its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,987 shares of the company’s stock after selling 6,646 shares during the period. Capital International Inc. CA’s holdings in PACCAR were worth $6,684,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PCAR. Bank of Montreal Can raised its stake in shares of PACCAR by 17.7% in the third quarter. Bank of Montreal Can now owns 424,768 shares of the company’s stock valued at $41,763,000 after acquiring an additional 63,850 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of PACCAR by 2.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 13,594 shares of the company’s stock worth $1,336,000 after purchasing an additional 294 shares during the period. Schroder Investment Management Group grew its holdings in PACCAR by 9.0% during the 3rd quarter. Schroder Investment Management Group now owns 91,441 shares of the company’s stock valued at $8,990,000 after purchasing an additional 7,562 shares during the last quarter. Parallel Advisors LLC grew its holdings in PACCAR by 1.6% during the 3rd quarter. Parallel Advisors LLC now owns 7,715 shares of the company’s stock valued at $759,000 after purchasing an additional 118 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in PACCAR by 16.3% in the 3rd quarter. Natixis Advisors LLC now owns 1,304,343 shares of the company’s stock worth $128,243,000 after purchasing an additional 182,714 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PCAR. 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 note on Wednesday, January 28th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. 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. Finally, Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $116.50.

PACCAR Price Performance

PACCAR stock opened at $118.12 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. The stock has a market cap of $62.12 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 1.00 and a beta of 1.03. The firm has a 50-day moving average of $122.56 and a two-hundred day moving average of $109.02. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $131.88.

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

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 9,258 shares of PACCAR stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the completion of the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. The trade was a 3.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the sale, the executive vice president owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This represents a 69.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 133,105 shares of company stock valued at $16,869,046 over the last 90 days. 2.02% of the stock is owned by insiders.

PACCAR 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.