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

Wellington Management Group LLP trimmed its stake in PACCAR Inc. (NASDAQ:PCAR) by 7.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,050,532 shares of the company’s stock after selling 1,448,745 shares during the period. Wellington Management Group LLP owned about 3.24% of PACCAR worth $2,048,110,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PCAR. Compass Financial Management LLC bought a new position in shares of PACCAR during the second quarter valued at $28,000. Paladin Partners LLC acquired a new stake in shares of PACCAR in the 2nd quarter valued at $27,000. Fiduciary Financial Advisors bought a new stake in shares of PACCAR in the 2nd quarter worth about $28,000. Steph & Co. bought a new stake in shares of PACCAR in the 1st quarter worth about $29,000. Finally, MCF Advisors LLC increased its position in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 price target on shares of PACCAR in a report on Wednesday, July 29th. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Wells Fargo & Company lifted their target price on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average target price of $131.70.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the transaction, the chief financial officer owned 1,391 shares in the company, valued at $184,307.50. The trade was a 58.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 50,975 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the transaction, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. This represents a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 56,842 shares of company stock valued at $7,565,677 over the last ninety days. Company insiders own 1.99% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $125.34 on Friday. The stock has a 50-day simple moving average of $127.35 and a 200 day simple moving average of $121.93. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The stock has a market capitalization of $65.97 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 1.00 and a beta of 0.97.

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

PACCAR Announces Dividend

The business also recently announced 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

PACCAR Profile

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.