Twelve Points Wealth Management LLC Increases Stake in PACCAR Inc (NASDAQ:PCAR)

Twelve Points Wealth Management LLC grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 16.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,987 shares of the company’s stock after purchasing an additional 1,944 shares during the period. Twelve Points Wealth Management LLC’s holdings in PACCAR were worth $1,455,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of PACCAR in the 2nd quarter worth approximately $26,000. Grove Bank & Trust increased its holdings in shares of PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the period. Sander Capital Advisors Inc. acquired a new stake in shares of PACCAR during the 3rd quarter valued at $50,000. Ashton Thomas Securities LLC acquired a new position in PACCAR in the 3rd quarter worth about $52,000. Finally, AdvisorNet Financial Inc raised its position in PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock valued at $59,000 after acquiring an additional 391 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

NASDAQ:PCAR opened at $107.25 on Wednesday. The company has a market capitalization of $56.23 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.77 and a beta of 0.93. The business has a fifty day simple moving average of $110.51 and a two-hundred day simple moving average of $104.42. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR (NASDAQ:PCAR) last posted 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 13.51% and a return on equity of 27.24%. On average, analysts expect that PACCAR Inc will post 7.93 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is currently 13.41%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PCAR shares. 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. Truist Financial lifted their price objective on PACCAR from $110.00 to $112.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Finally, Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.23.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.