Donaldson Capital Management LLC Takes $25.37 Million Position in PACCAR Inc. $PCAR

Donaldson Capital Management LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 231,670 shares of the company’s stock, valued at approximately $25,370,000.

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in PACCAR in the 2nd quarter valued at $472,520,000. Pacer Advisors Inc. boosted its stake in PACCAR by 2,389.2% during the 3rd quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after purchasing an additional 1,930,056 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of PACCAR by 235.9% during the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after buying an additional 1,784,236 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of PACCAR by 20.3% during the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after buying an additional 1,009,134 shares in the last quarter. Finally, Capital World Investors raised its position in shares of PACCAR by 11,269.8% in the third quarter. Capital World Investors now owns 807,712 shares of the company’s stock valued at $79,414,000 after buying an additional 800,608 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of PACCAR stock opened at $112.75 on Monday. The stock has a 50 day moving average of $122.03 and a 200 day moving average of $110.40. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The firm has a market capitalization of $59.34 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 0.95 and a beta of 1.03. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

Insider Activity

In other PACCAR news, VP Paulo Henrique Bolgar sold 12,183 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the completion of the transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the sale, the executive vice president owned 12,592 shares of the company’s stock, valued at approximately $1,593,265.76. This represents a 43.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 133,105 shares of company stock worth $16,869,046. 1.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Truist Financial raised their target price 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, Wells Fargo & Company set a $119.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $116.18.

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.