PACCAR Inc. (NASDAQ:PCAR) Shares Purchased by AIA Group Ltd

Key Points

• AIA Group Ltd significantly increased its holdings in PACCAR Inc. by 126.6% during the first quarter, resulting in ownership of 36,772 shares valued at approximately $3.58 million.
• PACCAR recently declared a quarterly dividend of $0.33, with a 1.4% dividend yield, payable on September 4th to shareholders on record as of August 14th.
• Analysts have shown positive sentiment towards PACCAR, with upgrades from several firms and an average target price of $107.77, indicating a “Moderate Buy” rating.

AIA Group Ltd lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 126.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,772 shares of the company's stock after purchasing an additional 20,544 shares during the period. AIA Group Ltd's holdings in PACCAR were worth $3,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of 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 in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of PACCAR by 62.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after purchasing an additional 13,904 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of PACCAR by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after buying an additional 4,429 shares during the last quarter. Moran Wealth Management LLC grew its holdings in shares of PACCAR by 28.8% during the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after buying an additional 52,525 shares during the last quarter. Finally, Stack Financial Management Inc purchased a new position in shares of PACCAR during the first quarter worth about $20,585,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PCAR shares. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and raised their price target for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a report on Monday, July 28th. Royal Bank Of Canada lowered their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Finally, Citigroup lifted their price objective on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.77.

PACCAR Price Performance

PCAR stock traded down $1.47 on Friday, reaching $98.22. The company had a trading volume of 1,830,450 shares, compared to its average volume of 3,295,420. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The company's fifty day moving average is $96.34 and its 200 day moving average is $97.22. The company has a market cap of $51.58 billion, a P/E ratio of 16.82, a PEG ratio of 4.00 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. PACCAR's revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 EPS. On average, research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm 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 $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR's payout ratio is 22.60%.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. The trade was a 15.19% 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 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.