Wellington Management Group LLP increased its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 53.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,434,115 shares of the company's stock after purchasing an additional 4,669,172 shares during the quarter. Wellington Management Group LLP owned 2.56% of PACCAR worth $1,325,678,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Mengis Capital Management Inc. raised its holdings in PACCAR by 2.9% during the third quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company's stock worth $18,863,000 after purchasing an additional 5,433 shares in the last quarter. Fisher Asset Management LLC raised its position in PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after acquiring an additional 89,245 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in PACCAR by 28.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company's stock valued at $2,552,000 after acquiring an additional 5,437 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PACCAR by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company's stock worth $301,260,000 after purchasing an additional 47,855 shares during the last quarter. Finally, Kinsale Capital Group Inc. lifted its stake in PACCAR by 17.2% during the third quarter. Kinsale Capital Group Inc. now owns 50,794 shares of the company's stock valued at $5,012,000 after purchasing an additional 7,451 shares during the last quarter. Institutional investors own 64.90% of the company's stock.
PACCAR Price Performance
PACCAR stock traded down $1.74 during trading hours on Friday, hitting $115.88. 1,916,392 shares of the stock were exchanged, compared to its average volume of 1,958,968. The stock has a market capitalization of $60.76 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.86 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The business's 50-day moving average is $109.14 and its two-hundred day moving average is $103.63.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The business's revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts expect that PACCAR Inc will post 7.98 EPS for the current fiscal year.
PACCAR Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR's dividend payout ratio is 13.41%.
Analyst Ratings Changes
PCAR has been the subject of several analyst reports. Morgan Stanley reduced their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada restated a "sector perform" rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. BNP Paribas upgraded shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Friday. Finally, Evercore ISI upgraded PACCAR from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $117.83.
Read Our Latest Analysis on PACCAR
Insiders Place Their Bets
In other news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares of the company's stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by insiders.
PACCAR Profile
(
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.
See Also
Before you consider PACCAR, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PACCAR wasn't on the list.
While PACCAR currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report