von Borstel & Associates Inc. Purchases 13,893 Shares of PACCAR Inc. $PCAR

von Borstel & Associates Inc. boosted its position in PACCAR Inc. (NASDAQ:PCAR) by 239.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,685 shares of the company’s stock after purchasing an additional 13,893 shares during the period. von Borstel & Associates Inc.’s holdings in PACCAR were worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NorthRock Partners LLC grew its holdings in PACCAR by 67.5% in the 3rd quarter. NorthRock Partners LLC now owns 7,396 shares of the company’s stock worth $727,000 after acquiring an additional 2,980 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in PACCAR by 8.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 32,228 shares of the company’s stock valued at $3,168,000 after buying an additional 2,423 shares during the last quarter. Prudential PLC grew its position in PACCAR by 72.7% during the third quarter. Prudential PLC now owns 18,882 shares of the company’s stock valued at $1,856,000 after buying an additional 7,951 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in PACCAR by 9.3% during the third quarter. Brown Brothers Harriman & Co. now owns 4,890 shares of the company’s stock valued at $481,000 after purchasing an additional 415 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its holdings in PACCAR by 0.5% during the 3rd quarter. Capital Wealth Planning LLC now owns 57,449 shares of the company’s stock valued at $5,648,000 after buying an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the sale, the chief financial officer directly owned 903 shares in the company, valued at $117,760.23. This trade represents a 70.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction on Friday, January 30th. The shares were sold at an average price of $122.43, for a total value of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares in the company, valued at $768,125.82. This represents a 66.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 133,105 shares of company stock valued at $16,869,046 in the last ninety days. 2.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PCAR shares. Zacks Research raised 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 research note on Tuesday, February 24th. Citigroup increased their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Truist Financial upped their price objective on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price target on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus target price of $116.50.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $115.34 on Friday. The firm has a market capitalization of $60.66 billion, a P/E ratio of 25.57, a P/E/G ratio of 0.98 and a beta of 1.03. 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 company’s fifty day moving average price is $122.79 and its 200 day moving average price is $109.18.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period last year, the company 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, sell-side analysts predict 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.