Dimensional Fund Advisors LP Acquires 313,292 Shares of PACCAR Inc (NASDAQ:PCAR)

Dimensional Fund Advisors LP raised its stake in PACCAR Inc (NASDAQ:PCAR) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,006,859 shares of the company’s stock after acquiring an additional 313,292 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.15% of PACCAR worth $624,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Norges Bank acquired a new stake in PACCAR in the fourth quarter valued at approximately $526,922,000. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in PACCAR during the 4th quarter worth $254,651,000. JPMorgan Chase & Co. increased its holdings in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

Shares of PCAR opened at $88.17 on Friday. The stock has a market cap of $46.28 billion, a P/E ratio of 11.15, a P/E/G ratio of 2.77 and a beta of 0.96. The business’s fifty day moving average is $99.09 and its 200 day moving average is $105.76. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $85.10 and a 12-month high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio is presently 16.69%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent research reports. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial reduced their price objective on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.59.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last three months. 2.02% of the stock is currently owned by insiders.

PACCAR 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.