Wedmont Private Capital Buys 606 Shares of PACCAR Inc (NASDAQ:PCAR)

Wedmont Private Capital raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,417 shares of the company’s stock after acquiring 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 quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new position in PACCAR during the 4th quarter valued at about $1,984,000. Sanctuary Advisors LLC lifted its holdings in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares during the last quarter. Mengis Capital Management Inc. boosted its position in shares of PACCAR by 2.9% in the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 1.9 %

Shares of NASDAQ:PCAR opened at $110.20 on Wednesday. The stock’s 50-day simple moving average is $111.37 and its two-hundred day simple moving average is $103.89. The stock has a market capitalization of $57.78 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.77 and a beta of 0.93. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

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

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is presently 14.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PCAR shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial upped their target price on shares of PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Morgan Stanley reduced their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $119.96.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction dated 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 in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kevin D. Baney sold 9,894 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the transaction, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 in the last three months. Corporate insiders own 2.02% of the company’s stock.

PACCAR Company Profile

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.