Aberdeen Group plc Buys 18,700 Shares of PACCAR Inc. $PCAR

Key Points

• Aberdeen Group plc increased its stake in PACCAR Inc. by 3.6%, acquiring an additional 18,700 shares to reach a total of 542,696 shares, valued at approximately $51.59 million.
• PACCAR reported $1.37 EPS for the last quarter, exceeding expectations, but its revenue of $6.96 billion was below analyst forecasts of $7.02 billion.
• The company announced a quarterly dividend of $0.33 per share, set to be paid on December 3rd, with a dividend yield of 1.4%.

Aberdeen Group plc grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 542,696 shares of the company's stock after acquiring an additional 18,700 shares during the quarter. Aberdeen Group plc owned about 0.10% of PACCAR worth $51,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after buying an additional 3,379,165 shares in the last quarter. Pacer Advisors Inc. boosted its position in PACCAR by 2,957.4% in the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock worth $205,469,000 after purchasing an additional 2,041,168 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in PACCAR by 177.9% in the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company's stock worth $255,187,000 after purchasing an additional 1,677,736 shares during the last quarter. Jones Financial Companies Lllp boosted its position in PACCAR by 16,393.9% in the first quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company's stock worth $139,402,000 after purchasing an additional 1,422,992 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of PACCAR during the 1st quarter valued at about $125,566,000. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PCAR shares. Vertical Research raised PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Evercore ISI set a $114.00 target price on PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of PACCAR in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.59.

PACCAR Stock Down 2.3%

Shares of PCAR opened at $93.00 on Friday. The stock has a market capitalization of $48.83 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.94. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The business's 50 day simple moving average is $98.73 and its 200-day simple moving average is $95.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR's dividend payout ratio is 22.60%.

Insider Activity at PACCAR

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

PACCAR Company 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.

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