PACCAR Inc (NASDAQ:PCAR) Shares Sold by Watchman Group Inc.

Watchman Group Inc. lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 42,227 shares of the company’s stock after selling 1,109 shares during the period. PACCAR makes up about 1.2% of Watchman Group Inc.’s holdings, making the stock its 25th biggest holding. Watchman Group Inc.’s holdings in PACCAR were worth $4,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in PACCAR during the fourth quarter valued at about $526,922,000. Wellington Management Group LLP grew 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 worth $1,325,678,000 after buying an additional 4,669,172 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $254,651,000. JPMorgan Chase & Co. lifted its holdings in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in PACCAR during the 3rd quarter worth $63,186,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction dated 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 sale, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction 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 trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on PCAR shares. 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 note on Tuesday, March 18th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Eight investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

PACCAR Stock Performance

PCAR stock opened at $96.91 on Friday. The stock’s 50 day simple moving average is $105.19 and its 200 day simple moving average is $106.64. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $124.39. 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. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

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

PACCAR Increases Dividend

The business also recently declared 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio is presently 16.69%.

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.