Donaldson Capital Management LLC Buys New Stake in PACCAR Inc. $PCAR

Donaldson Capital Management LLC bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 231,670 shares of the company’s stock, valued at approximately $25,370,000.

Other large investors also recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. boosted its position in shares of PACCAR by 8.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 22,045 shares of the company’s stock worth $2,414,000 after buying an additional 1,775 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of PACCAR by 2.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 13,076 shares of the company’s stock valued at $1,432,000 after buying an additional 305 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of PACCAR by 79.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $86,000 after buying an additional 344 shares during the period. Dakota Wealth Management raised its holdings in shares of PACCAR by 5.1% in the 4th quarter. Dakota Wealth Management now owns 7,063 shares of the company’s stock valued at $783,000 after buying an additional 340 shares during the period. Finally, Matrix Trust Co lifted its stake in PACCAR by 229.1% during the 4th quarter. Matrix Trust Co now owns 9,703 shares of the company’s stock worth $1,063,000 after acquiring an additional 6,755 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PCAR. JPMorgan Chase & Co. raised their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Truist Financial raised their price objective on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. 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 research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $116.18.

Insider Activity

In related news, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the transaction, the executive vice president owned 12,592 shares in the company, valued at $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP C Michael Dozier sold 79,076 shares of the business’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 transaction of $10,115,401.92. Following the transaction, the executive vice president owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This trade represents a 69.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 133,105 shares of company stock valued at $16,869,046. 1.99% of the stock is owned by corporate insiders.

PACCAR Stock Performance

PCAR opened at $112.75 on Monday. The business has a fifty day moving average price of $122.03 and a 200 day moving average price of $110.40. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $131.88. The stock 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 (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.PACCAR’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 EPS. Sell-side analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

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.