Wellington Management Group LLP Trims Holdings in PACCAR Inc. $PCAR

Wellington Management Group LLP lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 11.9% in the third quarter, Holdings Channel.com reports. The fund owned 19,380,273 shares of the company’s stock after selling 2,615,275 shares during the period. Wellington Management Group LLP’s holdings in PACCAR were worth $1,905,468,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PCAR. Norges Bank bought a new position in PACCAR in the 2nd quarter worth $472,520,000. Pacer Advisors Inc. lifted its position in shares of PACCAR by 2,389.2% in the 3rd quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after purchasing an additional 1,930,056 shares during the period. American Century Companies Inc. boosted its stake in shares of PACCAR by 235.9% during the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after purchasing an additional 1,784,236 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of PACCAR by 25.2% during the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after buying an additional 1,165,443 shares during the period. Finally, Capital Research Global Investors increased its position in shares of PACCAR by 20.3% during the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after buying an additional 1,009,134 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 1.3%

Shares of NASDAQ PCAR opened at $115.34 on Friday. The firm’s 50 day moving average price is $122.79 and its 200-day moving average price is $109.18. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $131.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The company has a market cap of $60.66 billion, a PE ratio of 25.57, a P/E/G ratio of 0.98 and a beta of 1.03.

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

Analysts Set New Price Targets

PCAR has been the topic of several research reports. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. increased their price objective on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. One research 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, PACCAR presently has a consensus rating of “Hold” and an average target price of $116.50.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 9,258 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total transaction of $1,200,762.60. Following the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP C Michael Dozier sold 79,076 shares of PACCAR stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the sale, the executive vice president owned 34,656 shares of the company’s stock, valued at $4,433,195.52. The trade was a 69.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 133,105 shares of company stock valued at $16,869,046. Insiders own 2.02% of the company’s stock.

PACCAR Company Profile

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.