PACCAR Inc (NASDAQ:PCAR) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 25.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,798,765 shares of the company’s stock after buying an additional 3,364,650 shares during the quarter. Wellington Management Group LLP owned approximately 3.20% of PACCAR worth $1,747,408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Townsquare Capital LLC raised its position in shares of PACCAR by 36.1% during the 3rd quarter. Townsquare Capital LLC now owns 11,133 shares of the company’s stock worth $1,099,000 after purchasing an additional 2,951 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of PACCAR by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company’s stock worth $2,255,000 after purchasing an additional 2,700 shares during the last quarter. Verition Fund Management LLC lifted its stake in PACCAR by 41.2% in the 3rd quarter. Verition Fund Management LLC now owns 28,960 shares of the company’s stock valued at $2,858,000 after buying an additional 8,457 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in PACCAR during the 3rd quarter valued at $63,186,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PCAR. Citigroup reduced their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and reduced their target price for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Finally, Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $118.38.

Insider Activity

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR stock opened at $96.91 on Monday. The company has a market cap of $50.87 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $105.19 and a two-hundred day moving average price of $106.72. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $124.39.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is presently 16.69%.

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.