Wellington Management Group LLP Has $193.22 Million Position in PACCAR Inc (NASDAQ:PCAR)

Wellington Management Group LLP reduced its stake in PACCAR Inc (NASDAQ:PCAR) by 20.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,978,728 shares of the company’s stock after selling 511,078 shares during the period. Wellington Management Group LLP owned about 0.38% of PACCAR worth $193,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Morningstar Investment Management LLC boosted its position in PACCAR by 1.3% during the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock worth $740,000 after buying an additional 97 shares during the period. Kingsview Wealth Management LLC boosted its position in PACCAR by 3.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after buying an additional 100 shares during the period. FORVIS Wealth Advisors LLC boosted its position in PACCAR by 0.5% during the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company’s stock worth $2,158,000 after buying an additional 109 shares during the period. Pinnacle West Asset Management Inc. boosted its position in PACCAR by 3.2% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 4,025 shares of the company’s stock worth $393,000 after buying an additional 125 shares during the period. Finally, Blue Trust Inc. boosted its position in PACCAR by 39.3% during the 4th quarter. Blue Trust Inc. now owns 450 shares of the company’s stock worth $44,000 after buying an additional 127 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR stock opened at $107.70 on Wednesday. The firm has a market capitalization of $56.45 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. The firm has a fifty day simple moving average of $109.34 and a two-hundred day simple moving average of $107.21. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12 month low of $76.88 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 EPS. Analysts forecast that PACCAR Inc will post 8.36 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is 12.45%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Royal Bank of Canada started coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial restated a “hold” rating and issued a $121.00 price target (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Finally, Evercore ISI boosted their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,040 shares of company stock worth $4,779,241. 2.02% of the stock is owned by corporate insiders.

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.