Aberdeen Group plc Purchases 292,399 Shares of PACCAR Inc. $PCAR

Key Points

• Aberdeen Group plc increased its stake in PACCAR Inc. by 126.3%, acquiring 292,399 shares, bringing its total holdings to 523,996 shares worth approximately $50.77 million.
• PACCAR's CEO, R. Preston Feight, and CFO, Brice J. Poplawski, recently sold significant amounts of their stock, with Feight reducing his position by 15.19% and Poplawski by 91.44%.
• The company announced a quarterly dividend of $0.33 per share, which will be paid on September 4th, reflecting an annualized dividend yield of 1.3%.

Aberdeen Group plc lifted its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 126.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,996 shares of the company's stock after purchasing an additional 292,399 shares during the quarter. Aberdeen Group plc owned about 0.10% of PACCAR worth $50,770,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in PACCAR during the 1st quarter valued at about $29,000. Sunbelt Securities Inc. raised its holdings in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after buying an additional 350 shares during the last quarter. Bayforest Capital Ltd lifted its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after buying an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC bought a new position in shares of PACCAR in the first quarter worth approximately $40,000. Institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Truist Financial decreased their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 price objective on PACCAR and gave the company an "outperform" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and an average target price of $107.68.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

PACCAR Stock Performance

NASDAQ PCAR traded down $0.91 on Thursday, reaching $97.27. 381,509 shares of the stock were exchanged, compared to its average volume of 2,865,985. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The firm has a market capitalization of $51.08 billion, a PE ratio of 16.65, a PEG ratio of 3.99 and a beta of 0.91. The company's 50-day simple moving average is $96.60 and its two-hundred day simple moving average is $96.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the firm earned $2.13 EPS. The company's revenue was down 15.7% on a year-over-year basis. Analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

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.