Brandywine Global Investment Management LLC Raises Stake 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 its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 658,861 shares of the company’s stock after purchasing an additional 314,299 shares during the quarter. Brandywine Global Investment Management LLC owned 0.13% of PACCAR worth $68,535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in PACCAR in the fourth quarter valued at about $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR during the fourth quarter worth $37,000. OFI Invest Asset Management acquired a new stake in PACCAR in the fourth quarter valued at $43,000. Atala Financial Inc purchased a new position in shares of PACCAR in the fourth quarter valued at $43,000. Finally, Regents Gate Capital LLP acquired a new position in shares of PACCAR during the 4th quarter worth $44,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research reports. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Truist Financial raised their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and reduced their target price for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Finally, 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. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

PACCAR Price Performance

PCAR opened at $96.91 on Friday. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $124.39. The company’s 50 day simple moving average is $105.19 and its 200 day simple moving average is $106.64. The stock has a market capitalization of $50.87 billion, a PE ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 net margin of 12.36% and a return on equity of 23.53%. As a group, sell-side analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

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

Insiders Place Their Bets

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 completion of the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction that occurred 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 owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is owned by company 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.