Brown Brothers Harriman & Co. Grows Position in PACCAR Inc (NASDAQ:PCAR)

Brown Brothers Harriman & Co. raised its position in PACCAR Inc (NASDAQ:PCAR) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,364 shares of the company’s stock after buying an additional 602 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in PACCAR were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Norges Bank acquired a new stake in shares of PACCAR during the fourth quarter worth about $526,922,000. JPMorgan Chase & Co. grew its holdings in shares of PACCAR by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 3,941,495 shares of the company’s stock worth $409,994,000 after buying an additional 426,311 shares during the last quarter. Bank of New York Mellon Corp increased its position in PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock valued at $364,690,000 after acquiring an additional 61,457 shares during the period. Finally, Principal Financial Group Inc. raised its stake in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after acquiring an additional 178,813 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last ninety days. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PCAR shares. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. 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. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

PACCAR Stock Performance

Shares of PCAR stock opened at $96.91 on Monday. The stock has a fifty day moving average price of $105.19 and a 200 day moving average price of $106.72. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market cap of $50.87 billion, a PE ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $124.39.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results 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 return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

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

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.