Fisher Asset Management LLC Has $540.20 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Fisher Asset Management LLC grew its position in PACCAR Inc (NASDAQ:PCAR) by 0.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,193,217 shares of the company’s stock after purchasing an additional 12,292 shares during the period. Fisher Asset Management LLC’s holdings in PACCAR were worth $540,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Wellington Management Group LLP increased its stake in shares of PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after buying an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. JPMorgan Chase & Co. grew its stake in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of PACCAR during the third quarter worth $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of PACCAR by 115.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after purchasing an additional 576,532 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 over the last 90 days. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $107.24 on Friday. The business’s 50 day moving average price is $107.24 and its two-hundred day moving average price is $105.64. The company has a market cap of $56.28 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50.

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

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 16.69%.

Analyst Ratings Changes

A number of brokerages recently commented on PCAR. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup decreased their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

PACCAR 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.