Wellington Management Group LLP raised its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 20.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,177,930 shares of the company's stock after acquiring an additional 3,379,165 shares during the quarter. Wellington Management Group LLP owned about 3.84% of PACCAR worth $1,964,725,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. increased its position in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in PACCAR in the 1st quarter valued at about $29,000. Sunbelt Securities Inc. increased its position in PACCAR by 8,750.0% in 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 in the last quarter. Bayforest Capital Ltd grew its position in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after buying an additional 274 shares during the period. Finally, Accent Capital Management LLC acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 64.90% of the company's stock.
PACCAR Stock Up 4.1%
PCAR traded up $3.96 during trading on Friday, reaching $101.50. The company had a trading volume of 3,345,420 shares, compared to its average volume of 2,405,367. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The business's fifty day moving average price is $96.87 and its 200 day moving average price is $96.83. The company has a market cap of $53.30 billion, a P/E ratio of 17.38, a PEG ratio of 3.92 and a beta of 0.91.
PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the previous year, the firm posted $2.13 earnings per share. The business's revenue was down 15.7% on a year-over-year basis. Equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.
PACCAR Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's payout ratio is presently 22.60%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on PCAR. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research report on Monday, July 28th. Truist Financial lowered their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.
Get Our Latest Stock Report on PACCAR
Insider Buying and Selling
In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.
PACCAR Company Profile
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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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