Vanguard Group Inc. Sells 187,579 Shares of PACCAR Inc (NASDAQ:PCAR)

Vanguard Group Inc. reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,882,409 shares of the company’s stock after selling 187,579 shares during the period. Vanguard Group Inc. owned 11.80% of PACCAR worth $6,437,008,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. LPL Financial LLC lifted its position in shares of PACCAR by 6.1% during the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock valued at $22,094,000 after purchasing an additional 12,143 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in PACCAR in the fourth quarter worth about $32,859,000. Sei Investments Co. raised its position in PACCAR by 3.6% in the fourth quarter. Sei Investments Co. now owns 126,268 shares of the company’s stock worth $13,134,000 after acquiring an additional 4,422 shares during the period. American Century Companies Inc. raised its position in PACCAR by 15.8% in the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock worth $65,675,000 after acquiring an additional 86,215 shares during the period. Finally, Mizuho Securities USA LLC raised its position in PACCAR by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 49,692 shares of the company’s stock worth $5,169,000 after acquiring an additional 15,699 shares during the period. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Down 1.2 %

PCAR opened at $97.11 on Monday. The firm has a market capitalization of $50.96 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a fifty day moving average price of $106.29 and a 200-day moving average price of $106.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PCAR. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Finally, Melius Research upgraded shares of PACCAR to a “strong-buy” rating in a research note on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.23.

About PACCAR

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.