Grantham Mayo Van Otterloo & Co. LLC Increases Holdings in PACCAR Inc. $PCAR

Grantham Mayo Van Otterloo & Co. LLC increased its position in PACCAR Inc. (NASDAQ:PCAR) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,814 shares of the company’s stock after acquiring an additional 10,453 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in PACCAR were worth $24,857,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PCAR. Fidelis Capital Partners LLC boosted its position in PACCAR by 2.9% during the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock worth $366,000 after purchasing an additional 105 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in PACCAR by 3.1% in the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after purchasing an additional 108 shares during the last quarter. Matrix Trust Co increased its position in shares of PACCAR by 3.9% in the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock valued at $290,000 after buying an additional 110 shares in the last quarter. Forbes J M & Co. LLP increased its position in shares of PACCAR by 4.3% in the third quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock valued at $262,000 after buying an additional 111 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of PACCAR by 4.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,860 shares of the company’s stock worth $281,000 after buying an additional 119 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In related news, CFO Brice J. Poplawski sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer owned 903 shares in the company, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the sale, the executive vice president owned 34,656 shares in the company, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 133,105 shares of company stock valued at $16,869,046. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCAR. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $116.50.

PACCAR Stock Down 2.4%

Shares of NASDAQ:PCAR opened at $120.43 on Monday. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $63.33 billion, a P/E ratio of 26.70, a P/E/G ratio of 1.01 and a beta of 1.03. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The stock’s fifty day simple moving average is $122.05 and its 200-day simple moving average is $108.67.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter last year, the business posted $1.66 EPS. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s payout ratio is 29.27%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.