PACCAR Inc (NASDAQ:PCAR) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 7.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,228,551 shares of the company’s stock after selling 105,025 shares during the period. Wells Fargo & Company MN’s holdings in PACCAR were worth $127,794,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. World Investment Advisors lifted its position in PACCAR by 5.8% during the fourth quarter. World Investment Advisors now owns 4,490 shares of the company’s stock worth $467,000 after buying an additional 246 shares during the period. Nicolet Advisory Services LLC lifted its holdings in shares of PACCAR by 3.7% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,502 shares of the company’s stock worth $373,000 after acquiring an additional 125 shares during the period. Huntington National Bank boosted its position in shares of PACCAR by 126.8% in the fourth quarter. Huntington National Bank now owns 2,386 shares of the company’s stock worth $248,000 after acquiring an additional 1,334 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock worth $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. Finally, RFG Bristol Wealth Advisors LLC acquired a new position in PACCAR during the fourth quarter worth approximately $444,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 1.6 %

Shares of PCAR opened at $90.88 on Monday. PACCAR Inc has a one year low of $86.74 and a one year high of $123.20. The stock has a 50-day moving average price of $103.74 and a 200 day moving average price of $106.71. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a market capitalization of $47.71 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Citigroup decreased their target price on PACCAR from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Finally, Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.54.

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.