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

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 354,072 shares of the company’s stock after selling 26,129 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.07% of PACCAR worth $36,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after buying an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in PACCAR in the fourth quarter worth $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management acquired a new position in shares of PACCAR during the fourth quarter worth $43,000. Finally, Atala Financial Inc purchased a new stake in shares of PACCAR during the 4th quarter valued at $43,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the topic of several research analyst reports. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. Citigroup dropped their target price on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. Finally, UBS Group cut shares of PACCAR from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Eight investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.54.

PACCAR Stock Performance

Shares of PCAR stock opened at $90.88 on Friday. PACCAR Inc has a 52-week low of $89.67 and a 52-week 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 stock has a market cap 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. The business has a 50-day simple moving average of $103.74 and a 200-day simple moving average of $106.57.

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%. On average, equities analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

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

Insider Activity at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction 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. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were 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 of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by company insiders.

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.