Wellington Management Group LLP lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 25.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,798,765 shares of the company's stock after purchasing an additional 3,364,650 shares during the quarter. Wellington Management Group LLP owned about 3.20% of PACCAR worth $1,747,408,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in PACCAR during the 4th quarter worth approximately $526,922,000. Madison Investment Advisors LLC purchased a new stake in shares of PACCAR during the fourth quarter worth $254,651,000. JPMorgan Chase & Co. raised its stake in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after acquiring an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH purchased a new position in PACCAR in the third quarter valued at $63,186,000. Finally, KBC Group NV boosted its holdings in PACCAR by 185.7% in the fourth quarter. KBC Group NV now owns 688,808 shares of the company's stock valued at $71,649,000 after purchasing an additional 447,711 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.
Insider Buying and Selling at PACCAR
In related news, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company's stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were 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 of the company's stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by company insiders.
PACCAR Stock Performance
Shares of PACCAR stock traded up $0.92 on Tuesday, hitting $98.29. The stock had a trading volume of 2,193,917 shares, compared to its average volume of 2,656,908. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 12.43, a P/E/G 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. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $123.20. The company's 50 day moving average price is $104.69 and its 200 day moving average price is $106.76.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, research analysts anticipate 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. Shareholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is presently 16.69%.
Wall Street Analysts Forecast Growth
PCAR has been the topic of a number of analyst reports. Jefferies Financial Group lowered PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. Citigroup decreased their price target on shares of PACCAR from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Finally, Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $117.54.
Read Our Latest Report on PCAR
About PACCAR
(
Free Report)
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.
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