Wells Fargo & Company MN Purchases 126,720 Shares of PACCAR Inc (NASDAQ:PCAR)

Wells Fargo & Company MN boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,079,908 shares of the company’s stock after buying an additional 126,720 shares during the quarter. Wells Fargo & Company MN owned approximately 0.21% of PACCAR worth $105,453,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. AdvisorNet Financial Inc raised 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 buying an additional 181 shares during the last quarter. ORG Partners LLC raised its position in shares of PACCAR by 6,200.0% in the 4th quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after acquiring an additional 372 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $37,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $39,000. Finally, NBC Securities Inc. acquired a new position in shares of PACCAR in the 3rd quarter valued at about $34,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Truist Financial reissued a “hold” rating and issued a $121.00 price objective (up from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Evercore ISI upped their price target on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group upped their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

Insider Buying and Selling at PACCAR

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

PACCAR Stock Performance

PCAR stock opened at $108.87 on Friday. The business has a 50 day moving average of $114.63 and a 200-day moving average of $104.81. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50. The firm has a market cap of $57.06 billion, a PE ratio of 11.29, a P/E/G ratio of 1.68 and a beta of 0.96. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same period in the prior year, the company earned $2.25 earnings per share. PACCAR’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.10%. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, May 14th. PACCAR’s dividend payout ratio is 12.45%.

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.