Wellington Management Group LLP Raises Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Wellington Management Group LLP boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 25.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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’s holdings in PACCAR were worth $1,747,408,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Everence Capital Management Inc. bought a new stake in shares of PACCAR in the fourth quarter worth $1,984,000. Cullen Frost Bankers Inc. increased its position in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after purchasing an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after purchasing an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC raised its stake in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of PACCAR by 19.3% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after purchasing an additional 214 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This 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 at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. 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.

Analysts Set New Price Targets

Several brokerages recently weighed in on PCAR. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Citigroup lowered their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial raised their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group downgraded shares of 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. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

PACCAR Stock Performance

Shares of PCAR stock opened at $96.91 on Monday. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $124.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The business has a 50 day simple moving average of $105.19 and a 200 day simple moving average of $106.72.

PACCAR (NASDAQ:PCAR) last released 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%. On average, equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is currently 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.