Dimensional Fund Advisors LP Has $624.84 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Dimensional Fund Advisors LP lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,006,859 shares of the company's stock after purchasing an additional 313,292 shares during the quarter. Dimensional Fund Advisors LP owned about 1.15% of PACCAR worth $624,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of PACCAR in the fourth quarter worth about $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the fourth quarter valued at approximately $37,000. OFI Invest Asset Management acquired a new position in PACCAR in the 4th quarter worth approximately $43,000. Finally, Atala Financial Inc acquired a new stake in PACCAR during the 4th quarter valued at $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO R Preston Feight sold 25,200 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company's stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 over the last 90 days. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

PCAR traded up $3.25 during trading on Thursday, reaching $92.33. 1,359,123 shares of the company's stock were exchanged, compared to its average volume of 2,892,730. The business has a 50 day moving average price of $98.11 and a 200 day moving average price of $105.50. PACCAR Inc has a fifty-two week low of $85.05 and a fifty-two week high of $118.81. The company has a market capitalization of $48.47 billion, a P/E ratio of 11.67, a PEG ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is 16.69%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PCAR. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a report on Wednesday, April 16th. Truist Financial lowered their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and lowered their price target for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $108.59.

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.