Advisors Asset Management Inc. Increases Stock Position in PACCAR Inc. $PCAR

Key Points

• Advisors Asset Management Inc. increased its holdings in PACCAR Inc. by 16.2% during the 1st quarter, now owning a total of 71,587 shares valued at approximately $6.97 million.
• PACCAR's recent earnings showed an EPS of $1.37, surpassing analyst expectations, but the company's revenue was down 15.7% year-over-year at $6.96 billion.
• The company announced a quarterly dividend of $0.33, representing an annualized yield of 1.4% and a payout ratio of 22.6%.

Advisors Asset Management Inc. increased its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,587 shares of the company's stock after buying an additional 9,959 shares during the quarter. Advisors Asset Management Inc.'s holdings in PACCAR were worth $6,970,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in PACCAR by 15.1% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock worth $77,404,000 after purchasing an additional 104,281 shares during the period. FORA Capital LLC bought a new position in PACCAR during the first quarter worth $597,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of PACCAR by 62.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock valued at $3,533,000 after acquiring an additional 13,904 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in PACCAR by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock valued at $1,262,000 after purchasing an additional 4,429 shares in the last quarter. Finally, Moran Wealth Management LLC raised its stake in PACCAR by 28.8% in the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock valued at $22,898,000 after purchasing an additional 52,525 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction, the chief executive officer owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $0.80 during mid-day trading on Monday, reaching $98.25. 1,742,345 shares of the company's stock were exchanged, compared to its average volume of 2,832,588. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The firm has a market capitalization of $51.59 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The firm has a 50-day moving average price of $98.25 and a two-hundred day moving average price of $96.23.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $7.02 billion. During the same period in the previous year, the company earned $2.13 earnings per share. The company's quarterly revenue was down 15.7% on a year-over-year basis. Analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, August 14th. PACCAR's payout ratio is presently 22.60%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Citigroup raised their target price on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research report on Monday, July 28th. Finally, UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $107.68.

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.