Bar Harbor Wealth Management Has $1.34 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Bar Harbor Wealth Management lowered its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 40.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,882 shares of the company’s stock after selling 8,634 shares during the period. Bar Harbor Wealth Management’s holdings in PACCAR were worth $1,340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. Wellington Management Group LLP grew its stake in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. Dimensional Fund Advisors LP lifted its position in PACCAR by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after acquiring an additional 171,317 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in PACCAR by 5.9% during the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after buying an additional 242,435 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on PCAR shares. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Truist Financial increased their target price on shares of PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Finally, Citigroup raised their price target on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $118.75.

PACCAR Trading Up 1.5 %

NASDAQ PCAR traded up $1.65 on Monday, hitting $108.23. The company’s stock had a trading volume of 1,377,511 shares, compared to its average volume of 2,139,148. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The firm has a market cap of $56.75 billion, a P/E ratio of 12.09, a PEG ratio of 1.77 and a beta of 0.93. The company’s 50-day simple moving average is $111.26 and its 200 day simple moving average is $103.81.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.34 EPS. Research analysts predict that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is presently 14.75%.

Insiders Place Their Bets

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was 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 owns 7,121 shares of the company’s stock, valued at approximately $761,947. The trade was a 58.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. 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. 2.02% of the stock is currently owned by company insiders.

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.