PACCAR Inc. $PCAR Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its position in PACCAR Inc. (NASDAQ:PCAR) by 43.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,587 shares of the company’s stock after selling 8,051 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in PACCAR were worth $1,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of PACCAR by 19.8% in the first quarter. Bessemer Group Inc. now owns 18,337 shares of the company’s stock valued at $2,119,000 after purchasing an additional 3,031 shares during the period. Avalon Trust Co boosted its position in shares of PACCAR by 13.7% during the first quarter. Avalon Trust Co now owns 995 shares of the company’s stock worth $115,000 after buying an additional 120 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in PACCAR by 2.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,695 shares of the company’s stock worth $3,023,000 after buying an additional 580 shares in the last quarter. Independent Financial Group LLC bought a new position in PACCAR in the 1st quarter worth approximately $447,000. Finally, Smart Money Group LLC increased its position in PACCAR by 3.4% in the 1st quarter. Smart Money Group LLC now owns 10,543 shares of the company’s stock valued at $1,218,000 after acquiring an additional 344 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $126.20 on Friday. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The stock has a market cap of $66.42 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.16 and a beta of 0.97. The stock’s 50 day moving average price is $117.32 and its 200 day moving average price is $119.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 earnings per share. Equities research analysts anticipate that PACCAR Inc. will post 5.65 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s payout ratio is currently 29.79%.

Analyst Ratings Changes

Several brokerages have weighed in on PCAR. Morgan Stanley lifted their target price on PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a research note on Friday. Citigroup reissued a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.18.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.