RMR Wealth Builders Has $894,000 Position in PACCAR Inc (NASDAQ:PCAR)

RMR Wealth Builders lowered its position in shares of PACCAR Inc (NASDAQ:PCAR) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,591 shares of the company’s stock after selling 298 shares during the quarter. RMR Wealth Builders’ holdings in PACCAR were worth $894,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PCAR. Wellington Management Group LLP increased its holdings in shares of PACCAR by 53.3% during 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 acquiring an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in PACCAR by 49.6% during the 3rd 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 in the last quarter. Renaissance Technologies LLC bought a new position in shares of PACCAR in the second quarter valued at approximately $88,437,000. Finally, Erste Asset Management GmbH purchased a new position in shares of PACCAR during the third quarter valued at approximately $63,186,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

PACCAR stock traded down $1.92 during mid-day trading on Friday, hitting $106.58. 2,559,915 shares of the company traded hands, compared to its average volume of 2,287,699. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock has a market cap of $55.88 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. The stock has a fifty day moving average price of $111.20 and a 200-day moving average price of $103.83. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. During the same period last year, the business earned $2.34 earnings per share. The business’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities analysts predict that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is 14.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PCAR shares. Truist Financial increased their target price on shares of PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Citigroup raised their target price on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Morgan Stanley decreased their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $118.50.

Insider Transactions at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the transaction, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at $761,947. This represents a 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

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.