AE Wealth Management LLC Acquires 3,626 Shares of PACCAR Inc. (NASDAQ:PCAR)

Key Points

• AE Wealth Management LLC increased its stake in PACCAR Inc. by 15.1%, now holding 27,585 shares valued at approximately $2.7 million.
• PACCAR reported earnings per share of $1.37 for the last quarter, beating estimates, though revenue declined by 15.7% year-over-year.
• The company will pay a quarterly dividend of $0.33 on September 4th, with a current annualized yield of 1.30%.

AE Wealth Management LLC boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 15.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,585 shares of the company's stock after buying an additional 3,626 shares during the period. AE Wealth Management LLC's holdings in PACCAR were worth $2,686,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP increased its stake in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PACCAR by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after acquiring an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after acquiring an additional 987,805 shares in the last quarter. FMR LLC increased its position in shares of PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after acquiring an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of PACCAR by 8.5% during the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock worth $749,189,000 after acquiring an additional 565,967 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on PCAR shares. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research note on Wednesday. Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada cut their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $106.45.

PACCAR Stock Performance

NASDAQ:PCAR traded up $0.14 during mid-day trading on Friday, reaching $101.57. 2,983,287 shares of the company's stock were exchanged, compared to its average volume of 3,344,924. 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 $53.32 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 4.04 and a beta of 0.94. The business's fifty day simple moving average is $95.03 and its two-hundred day simple moving average is $98.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 1.73.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results 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 analyst estimates of $7.02 billion. During the same period last year, the firm earned $2.13 EPS. The business's quarterly revenue was down 15.7% compared to the same quarter last year. Analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio is currently 22.60%.

Insider Activity

In related news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred 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 sale, the chief financial officer directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director directly owned 13,015 shares in the company, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The disclosure for this purchase can be found here. 2.02% of the stock is owned by company insiders.

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.