Legal & General Group Plc Has $318.15 Million Stake in PACCAR Inc. $PCAR

Legal & General Group Plc trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,235,823 shares of the company’s stock after selling 75,794 shares during the period. Legal & General Group Plc owned 0.62% of PACCAR worth $318,146,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC raised its position in shares of PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after purchasing an additional 105 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of PACCAR by 3.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock worth $358,000 after buying an additional 108 shares during the period. Matrix Trust Co boosted its holdings in shares of PACCAR by 3.9% during the 3rd quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock worth $290,000 after buying an additional 110 shares during the period. Forbes J M & Co. LLP grew its stake in PACCAR by 4.3% in the 3rd quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock valued at $262,000 after buying an additional 111 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in PACCAR by 1.6% in the 3rd quarter. Parallel Advisors LLC now owns 7,715 shares of the company’s stock valued at $759,000 after buying an additional 118 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 133,105 shares of company stock valued at $16,869,046. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR 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 firm has a market capitalization of $62.12 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 1.00 and a beta of 1.03. The company’s fifty day moving average is $122.56 and its two-hundred day moving average is $109.02. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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 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 quarter in the previous year, the firm posted $1.66 EPS. The business’s revenue was down 15.1% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PCAR. Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup increased their target price on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, Truist Financial raised their target price on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. One research 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 company’s stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $116.50.

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.