Aigen Investment Management LP Purchases Shares of 2,844 PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Aigen Investment Management LP has acquired 2,844 shares of PACCAR Inc. valued at approximately $277,000 during the first quarter.
• The company announced a quarterly dividend of $0.33 per share, with a payout ratio of 22.60% and a yield of 1.3%.
• Recent insider trades showed significant share sales by PACCAR's CFO and CEO, indicating a 91.44% and 15.19% decrease in their holdings, respectively.

Aigen Investment Management LP acquired a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,844 shares of the company's stock, valued at approximately $277,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. grew its position in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in PACCAR during the 1st quarter worth $29,000. Sunbelt Securities Inc. grew its position in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares during the last quarter. Bayforest Capital Ltd grew its position in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in PACCAR during the 1st quarter worth $40,000. Institutional investors own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company's stock, valued at $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

NASDAQ PCAR traded down $1.47 on Friday, hitting $98.22. 1,830,450 shares of the stock traded hands, compared to its average volume of 3,295,420. The business's fifty day moving average is $96.34 and its two-hundred day moving average is $97.12. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The firm has a market capitalization of $51.58 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results 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 firm had revenue of $6.96 billion for 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%. The business's quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 earnings per share. As a group, equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PCAR shares. Royal Bank Of Canada reduced their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research report on Monday, July 28th. Citigroup upped their price target on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of "Moderate Buy" and an average target price of $107.77.

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.