AIA Group Ltd Has $12.54 Million Holdings in PACCAR Inc. $PCAR

Key Points

• AIA Group Ltd increased its PACCAR stake by 17% in the first quarter, buying 15,800 additional shares and bringing its total holding to 108,600 shares valued at about $12.54 million.
• Institutional ownership remains high, with several large investors also boosting their positions and institutions collectively holding about 64.9% of PACCAR’s stock.
• Analyst sentiment is mixed but slightly cautious: PACCAR has a consensus rating of “Hold” with an average price target of $124.18, even as some firms recently raised their targets.

AIA Group Ltd grew its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 17.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,600 shares of the company's stock after purchasing an additional 15,800 shares during the period. AIA Group Ltd's holdings in PACCAR were worth $12,543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Norges Bank bought a new stake in shares of PACCAR during the 4th quarter worth approximately $727,745,000. Wellington Management Group LLP increased its position in PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company's stock worth $2,516,272,000 after acquiring an additional 3,597,283 shares during the period. UBS Group AG raised its stake in PACCAR by 74.4% in the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company's stock worth $498,146,000 after purchasing an additional 1,940,260 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in PACCAR by 129.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company's stock worth $249,237,000 after purchasing an additional 1,286,056 shares in the last quarter. Finally, Focus Partners Wealth grew its position in PACCAR by 17,292.6% during the fourth quarter. Focus Partners Wealth now owns 1,202,700 shares of the company's stock worth $131,725,000 after buying an additional 1,195,785 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PCAR shares. JPMorgan Chase & Co. upped their target price on PACCAR from $140.00 to $155.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Morgan Stanley lifted their price target on shares of PACCAR from $109.00 to $113.00 and gave the company an "equal weight" rating in a report on Friday. Truist Financial increased their price objective on shares of PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. BNP Paribas Exane started coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a "neutral" rating and a $126.00 target price on the stock. Finally, Citigroup reiterated a "neutral" rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $124.18.

PACCAR Stock Performance

NASDAQ:PCAR opened at $126.20 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $117.32 and a 200-day moving average of $119.60. The firm has a market capitalization of $66.42 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.16 and a beta of 0.97. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts' consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the company posted $1.46 EPS. The firm's revenue was down 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc. will post 5.65 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR's dividend payout ratio (DPR) is currently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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