PACCAR Inc (NASDAQ:PCAR) Position Boosted by Drive Wealth Management LLC

Drive Wealth Management LLC grew its holdings in shares of PACCAR Inc (NASDAQ:PCARFree Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,682 shares of the company’s stock after purchasing an additional 155 shares during the period. Drive Wealth Management LLC’s holdings in PACCAR were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PCAR. FORVIS Wealth Advisors LLC boosted its holdings in shares of PACCAR by 0.5% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after buying an additional 109 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of PACCAR by 0.9% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company’s stock worth $1,231,000 after buying an additional 124 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of PACCAR by 1.9% in the third quarter. CIBC Private Wealth Group LLC now owns 6,654 shares of the company’s stock worth $557,000 after buying an additional 124 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of PACCAR by 8.2% in the first quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock worth $145,000 after buying an additional 125 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of PACCAR by 39.3% in the fourth quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after buying an additional 127 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PCAR. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. TD Cowen increased their price target on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group increased their price target on shares of PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Truist Financial started coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

Check Out Our Latest Research Report on PACCAR

PACCAR Price Performance

Shares of PCAR opened at $121.60 on Wednesday. The firm has a market cap of $63.72 billion, a PE ratio of 13.87, a PEG ratio of 1.92 and a beta of 0.92. The firm’s 50 day moving average price is $111.59 and its 200 day moving average price is $97.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. PACCAR Inc has a twelve month low of $67.48 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.45. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 earnings per share. As a group, research analysts expect that PACCAR Inc will post 8.15 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is 12.31%.

Insider Activity

In other news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Insiders have sold a total of 153,496 shares of company stock valued at $15,834,812 over the last 90 days. 2.02% of the stock is currently owned by company insiders.

PACCAR 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.

Further Reading

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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