Brandywine Global Investment Management LLC Has $30.99 Million Stock Position in PACCAR Inc. $PCAR

Key Points

• Brandywine Global Investment Management LLC reduced its stake in PACCAR Inc. by 51.7% in the first quarter, now holding approximately 0.06% of the company, worth about $30.99 million.
• Analysts have mixed views on PACCAR, with ratings ranging from "buy" to "hold" and a consensus price target of $107.77.
• PACCAR announced a quarterly dividend of $0.33 per share, indicating a 1.3% dividend yield and a payout ratio of 22.60%.

Brandywine Global Investment Management LLC cut its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 51.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,285 shares of the company's stock after selling 340,576 shares during the quarter. Brandywine Global Investment Management LLC owned 0.06% of PACCAR worth $30,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in PACCAR during the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. raised its stake in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the last quarter. Bayforest Capital Ltd lifted its holdings in shares of PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after buying an additional 274 shares during the period. Finally, Accent Capital Management LLC acquired a new stake in shares of PACCAR in the 1st quarter valued at approximately $40,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Truist Financial dropped their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Citigroup boosted their price objective on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada dropped their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Finally, UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

PACCAR Price Performance

PCAR traded down $0.7460 during trading on Thursday, reaching $97.4340. The stock had a trading volume of 432,906 shares, compared to its average volume of 2,866,412. The firm has a market capitalization of $51.16 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The stock has a 50 day moving average of $96.60 and a two-hundred day moving average of $96.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the business earned $2.13 EPS. The company's revenue was down 15.7% on a year-over-year basis. As a group, equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR's dividend payout ratio is currently 22.60%.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

PACCAR 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.