Wedmont Private Capital Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

Wedmont Private Capital increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,417 shares of the company’s stock after purchasing an additional 606 shares during the quarter. Wedmont Private Capital’s holdings in PACCAR were worth $897,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. Legal & General Group Plc grew its stake in PACCAR by 5.9% during the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after acquiring an additional 242,435 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 in the last three months. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PCAR shares. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial raised their price target on PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $116.00 to $121.50 in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $119.96.

PACCAR Stock Up 1.9 %

Shares of NASDAQ PCAR opened at $110.20 on Wednesday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm has a 50-day simple moving average of $111.37 and a two-hundred day simple moving average of $103.89. The company has a market cap of $57.78 billion, a P/E ratio of 12.31, a PEG ratio of 1.77 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the business earned $2.34 EPS. PACCAR’s revenue was down 5.2% compared to the same quarter last year. Research analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 14.75%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.