China Universal Asset Management Co. Ltd. Boosts Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

China Universal Asset Management Co. Ltd. boosted its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 51.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,962 shares of the company's stock after purchasing an additional 4,429 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in PACCAR were worth $1,262,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Geode Capital Management LLC grew its holdings in PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after purchasing an additional 572,231 shares during the period. FMR LLC lifted its stake in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after buying an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after buying an additional 565,967 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCAR has been the topic of a number of recent research reports. Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research note on Wednesday, April 16th. Melius Research set a $120.00 price objective on shares of PACCAR in a research note on Tuesday, March 18th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $104.59.

PACCAR Stock Down 2.0%

Shares of PCAR traded down $2.01 during trading hours on Friday, reaching $97.21. 2,822,712 shares of the stock traded hands, compared to its average volume of 2,731,635. The company has a market cap of $51.03 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 3.67 and a beta of 0.94. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The stock has a fifty day simple moving average of $94.21 and a 200 day simple moving average of $98.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business's revenue was down 16.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.27 EPS. On average, equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.36%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio is 20.00%.

Insider Buying and Selling

In related news, Director Pierre R. Breber acquired 5,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director owned 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.