PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,434 shares of the company’s stock after purchasing an additional 913 shares during the quarter. Wedmont Private Capital’s holdings in PACCAR were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc increased its stake in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Rise Advisors LLC acquired a new stake in PACCAR during the first quarter worth about $31,000. Bruce G. Allen Investments LLC acquired a new stake in PACCAR during the fourth quarter worth about $37,000. ORG Partners LLC increased its stake in PACCAR by 6,200.0% during the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after acquiring an additional 372 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in PACCAR during the fourth quarter worth about $39,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial restated a “hold” rating and set a $121.00 price target (up from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. The Goldman Sachs Group increased their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.62.

Insiders Place Their Bets

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 33,850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock valued at $4,779,241 in the last quarter. Insiders own 2.02% of the company’s stock.

PACCAR Trading Down 1.2 %

Shares of PCAR opened at $105.96 on Friday. The company has a market capitalization of $55.54 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.64 and a beta of 0.94. PACCAR Inc has a one year low of $76.93 and a one year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The stock has a 50-day moving average price of $108.64 and a 200 day moving average price of $107.30.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. PACCAR’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.25 earnings per share. Sell-side analysts forecast that PACCAR Inc will post 8.36 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

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.