Vanguard Trims PACCAR Stake to 7.79%, Now Holds 40.55M Shares

TL;DR

**Vanguard cut its PACCAR stake to 7.79%, selling millions of shares.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in PACCAR Inc (PCAR) as of December 29, 2023. Vanguard now beneficially owns 40,553,490 shares of PACCAR's Common Stock, representing 7.79% of the company. This is a decrease from their previous reported stake, indicating Vanguard has reduced its exposure to PACCAR, which could signal a shift in their investment strategy or outlook for the truck manufacturer.

Why It Matters

This filing shows that a major institutional investor, Vanguard, has reduced its ownership in PACCAR, which could be interpreted by the market as a less bullish stance on the company's future prospects.

Risk Assessment

Risk Level: medium — A significant reduction in ownership by a major institutional investor like Vanguard could signal potential concerns or a re-evaluation of PACCAR's stock performance.

Analyst Insight

A smart investor would monitor PACCAR's stock performance and news for any further institutional selling or buying, and research potential reasons for Vanguard's reduced stake, such as changes in sector outlook or company fundamentals, before making any investment decisions.

Key Numbers

• 40,553,490 — Shares Beneficially Owned (The total number of PACCAR Common Stock shares Vanguard holds, indicating a reduction from previous filings.)
• 7.79% — Percentage of Class (The percentage of PACCAR's outstanding Common Stock now owned by Vanguard, showing a decreased stake.)
• December 29, 2023 — Event Date (The specific date as of which Vanguard's ownership percentage in PACCAR was calculated for this filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person, institutional investor
• PACCAR Inc (company) — issuer of the securities
• 40,553,490 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 7.79% (dollar_amount) — percentage of PACCAR's Common Stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• PACCAR's stock price may experience short-term volatility due to the news of Vanguard reducing its stake. (PACCAR Inc) — medium confidence, target: 2024-03-13
• Other institutional investors might re-evaluate their positions in PACCAR following Vanguard's move. (Institutional Investors) — low confidence, target: 2024-05-13

FAQ

Filing Documents

• tv01644-paccarinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021658.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: PACCAR Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 777-106th Avenue NE Bellevue, WA 98004-5027

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 693718108

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration