Bartlett & CO. Wealth Management LLC Has $2.07 Million Stake in PACCAR Inc. $PCAR

Key Points

• Bartlett & CO. Wealth Management raised its stake in PACCAR by 76.6%, buying an additional 8,087 shares to hold 18,638 shares worth about $2.07 million per its latest 13F filing.
• Significant insider selling occurred recently—133,105 shares sold over the last 90 days worth roughly $16.87 million—while company insiders own 1.99% of PACCAR and institutional investors own 64.90%.
• Analysts give a consensus "Hold" with an average price target of $117; PACCAR beat revenue expectations ($6.82B) but revenue was down 15.1% year-over-year and EPS matched estimates at $1.06.

Bartlett & CO. Wealth Management LLC raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 76.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,638 shares of the company's stock after purchasing an additional 8,087 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in PACCAR were worth $2,067,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Jackson Square Capital LLC lifted its stake in shares of PACCAR by 3.5% in the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company's stock valued at $290,000 after buying an additional 90 shares in the last quarter. First Pacific Financial lifted its stake in shares of PACCAR by 11.1% in the fourth quarter. First Pacific Financial now owns 1,058 shares of the company's stock valued at $116,000 after buying an additional 106 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of PACCAR by 3.2% in the fourth quarter. Fulton Bank N.A. now owns 3,458 shares of the company's stock valued at $379,000 after buying an additional 107 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of PACCAR by 3.1% in the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company's stock valued at $358,000 after buying an additional 108 shares in the last quarter. Finally, Matrix Trust Co lifted its stake in shares of PACCAR by 3.9% in the third quarter. Matrix Trust Co now owns 2,948 shares of the company's stock valued at $290,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BNP Paribas Exane assumed coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 price objective on the stock. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the company an "equal weight" rating in a research note on Tuesday, February 3rd. Citigroup raised their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a "neutral" rating in a research note on Thursday, January 29th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $117.00.

Insider Activity at PACCAR

In other news, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction on Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the sale, the vice president directly owned 6,274 shares in the company, valued at $768,125.82. The trade was a 66.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the sale, the chief financial officer owned 903 shares in the company, valued at $117,760.23. The trade was a 70.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 133,105 shares of company stock worth $16,869,046. 1.99% of the stock is owned by company insiders.

PACCAR Trading Up 0.1%

NASDAQ PCAR opened at $127.19 on Friday. The stock has a market capitalization of $66.94 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.07 and a beta of 1.06. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. The business's fifty day moving average is $121.53 and its 200-day moving average is $111.67.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting analysts' consensus estimates of $1.06. The company had revenue of $6.82 billion for the quarter, compared to analysts' expectations of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business's revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.66 EPS. Equities research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Company Profile

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.

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