Fmr LLC Acquires 167,165 Shares of PACCAR Inc (NASDAQ:PCAR)

Fmr LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,791,660 shares of the company’s stock after acquiring an additional 167,165 shares during the period. Fmr LLC owned approximately 1.68% of PACCAR worth $914,509,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of PACCAR during the fourth quarter valued at about $526,922,000. Wellington Management Group LLP grew its stake in PACCAR by 25.0% during the fourth 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 approximately $254,651,000. JPMorgan Chase & Co. lifted its stake 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 boosted its holdings in PACCAR by 5.6% in the 4th 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 period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR stock opened at $88.14 on Tuesday. The firm has a market cap of $46.27 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a twelve month low of $86.12 and a twelve month high of $123.20. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $103.31 and its two-hundred day simple moving average is $106.63.

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

PACCAR Increases Dividend

The company also recently disclosed 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 represents a $1.32 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is presently 16.69%.

Analyst Ratings Changes

Several research firms recently weighed in on PCAR. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and cut their target price for the stock from $108.00 to $78.00 in a research report on Monday. Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. Finally, Citigroup dropped their price target on PACCAR from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.04.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last 90 days. Insiders own 2.02% of the company’s stock.

PACCAR Company 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.