Brandywine Global Investment Management LLC Grows Holdings in PACCAR Inc (NASDAQ:PCAR)

Brandywine Global Investment Management LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 91.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 658,861 shares of the company’s stock after buying an additional 314,299 shares during the period. Brandywine Global Investment Management LLC’s holdings in PACCAR were worth $68,535,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of PACCAR in the 4th quarter worth approximately $526,922,000. Wellington Management Group LLP increased its stake in PACCAR by 53.3% during the third 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. Madison Investment Advisors LLC bought a new position in shares of PACCAR in the 4th quarter worth about $254,651,000. JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in shares of PACCAR in the 3rd quarter valued at about $63,186,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Down 1.3 %

Shares of NASDAQ:PCAR opened at $96.91 on Friday. The company has a 50 day moving average of $105.19 and a 200-day moving average of $106.64. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market cap of $50.87 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $124.39.

PACCAR (NASDAQ:PCAR) last released 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%. As a group, analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. 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 1.36%. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCAR. Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. Truist Financial raised their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction on Friday, January 31st. The shares were 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 in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

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.