Wellington Management Group LLP Has $2.05 Billion Holdings in PACCAR Inc. $PCAR

Wellington Management Group LLP lessened its holdings in PACCAR Inc. (NASDAQ:PCAR) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,050,532 shares of the company’s stock after selling 1,448,745 shares during the quarter. Wellington Management Group LLP’s holdings in PACCAR were worth $2,048,110,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in PACCAR during the 2nd quarter worth $4,927,720,000. State Street Corp raised its position in shares of PACCAR by 0.4% during the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock valued at $2,494,269,000 after acquiring an additional 94,869 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after purchasing an additional 50,622 shares during the period. Bank of America Corp DE bought a new position in shares of PACCAR in the 2nd quarter worth $1,130,496,000. Finally, Norges Bank acquired a new stake in shares of PACCAR during the fourth quarter worth $727,745,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the sale, the vice president directly owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 50,975 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the transaction, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company’s stock.

PACCAR Price Performance

PCAR opened at $125.34 on Friday. The stock has a market cap of $65.97 billion, a P/E ratio of 26.33, a P/E/G ratio of 1.00 and a beta of 0.97. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $127.35 and a 200 day simple moving average of $121.93.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts expect that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their target price on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Citigroup upped their price target on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $131.70.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.