Grantham Mayo Van Otterloo & Co. LLC Decreases Position in PACCAR Inc (NASDAQ:PCAR)

Grantham Mayo Van Otterloo & Co. LLC reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 6.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 354,072 shares of the company’s stock after selling 26,129 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in PACCAR were worth $36,831,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PCAR. Principal Financial Group Inc. raised its stake in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares during the last quarter. HighTower Advisors LLC raised its position in shares of PACCAR by 9.7% in the third quarter. HighTower Advisors LLC now owns 232,398 shares of the company’s stock valued at $22,970,000 after buying an additional 20,469 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of PACCAR by 3.0% in the third quarter. Janus Henderson Group PLC now owns 65,511 shares of the company’s stock worth $6,464,000 after buying an additional 1,900 shares in the last quarter. IHT Wealth Management LLC acquired a new position in PACCAR during the third quarter worth about $297,000. Finally, Morse Asset Management Inc purchased a new stake in PACCAR during the 3rd quarter valued at about $370,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 1.6 %

Shares of NASDAQ:PCAR opened at $90.88 on Friday. The firm has a market capitalization of $47.71 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $89.67 and a 1 year high of $123.20. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm’s 50-day moving average is $103.74 and its two-hundred day moving average is $106.57.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is currently 16.69%.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated 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 owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was 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. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and dropped their target price for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.54.

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.