Wells Fargo & Company MN decreased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,228,551 shares of the company's stock after selling 105,025 shares during the period. Wells Fargo & Company MN owned about 0.23% of PACCAR worth $127,794,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in PCAR. Norges Bank acquired a new stake in shares of PACCAR in the fourth quarter valued at about $526,922,000. Wellington Management Group LLP boosted its stake in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in PACCAR in the 4th quarter valued at approximately $254,651,000. JPMorgan Chase & Co. raised its holdings in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after buying an additional 572,231 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at PACCAR
In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company's stock, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. Corporate insiders own 2.02% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a research note on Friday. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $108.00 to $78.00 in a research report on Monday. Finally, Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $112.13.
View Our Latest Analysis on PACCAR
PACCAR Stock Performance
NASDAQ PCAR traded up $0.27 during trading hours on Friday, hitting $89.04. The company had a trading volume of 841,988 shares, compared to its average volume of 2,723,141. PACCAR Inc has a fifty-two week low of $84.96 and a fifty-two week high of $121.75. The firm has a market cap of $46.74 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $101.28 and a 200-day simple moving average of $106.21.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts predict that PACCAR Inc will post 7.57 EPS for the current year.
PACCAR Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.48%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.
PACCAR Company Profile
(
Free Report)
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.
Featured Articles
Before you consider PACCAR, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PACCAR wasn't on the list.
While PACCAR currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
