PACCAR Inc (NASDAQ:PCAR) Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC raised its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 133.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,665 shares of the company's stock after acquiring an additional 3,241 shares during the period. RWA Wealth Partners LLC's holdings in PACCAR were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in PCAR. Wellington Management Group LLP raised its stake in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after buying an additional 4,669,172 shares during the last quarter. Norges Bank acquired a new stake in PACCAR in the 4th quarter worth approximately $526,922,000. JPMorgan Chase & Co. grew its position in PACCAR by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 3,941,495 shares of the company's stock worth $409,994,000 after purchasing an additional 426,311 shares during the last quarter. Bank of New York Mellon Corp grew its position in PACCAR by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock worth $364,690,000 after purchasing an additional 61,457 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after acquiring an additional 178,813 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of brokerages have recently commented on PCAR. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Truist Financial raised their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. Finally, Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $117.54.

PACCAR Stock Performance

PCAR traded down $1.48 during trading on Friday, reaching $90.88. The company's stock had a trading volume of 6,326,890 shares, compared to its average volume of 2,671,814. The company has a market capitalization of $47.71 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company's fifty day moving average price is $104.12 and its 200-day moving average price is $106.61. PACCAR Inc has a 52-week low of $81.60 and a 52-week high of $123.20. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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%. On average, equities analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is currently 16.69%.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. Corporate insiders own 2.02% of the company's stock.

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.