PACCAR Inc. (NASDAQ:PCAR) Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in PACCAR Inc. by 4.4% during the first quarter, acquiring an additional 210,825 shares and owning approximately 0.95% of the company, valued at $483 million.
• Several analysts have issued mixed ratings on PACCAR, with a consensus rating of "Moderate Buy" and an average target price of $107.77.
• PACCAR plans to distribute a quarterly dividend of $0.33 per share, with a payment date of September 4th, yielding about 1.4% annually.

Invesco Ltd. lifted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,965,976 shares of the company's stock after buying an additional 210,825 shares during the period. Invesco Ltd. owned approximately 0.95% of PACCAR worth $483,537,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PCAR. Vanguard Group Inc. increased its holdings in shares of PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after purchasing an additional 1,113,520 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of PACCAR by 9.2% in 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 purchasing an additional 987,805 shares during the period. Northern Trust Corp increased its holdings 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 worth $749,189,000 after purchasing an additional 565,967 shares during the period. Dimensional Fund Advisors LP grew its position in PACCAR by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,006,859 shares of the company's stock worth $624,836,000 after acquiring an additional 313,292 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after acquiring an additional 4,219,964 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

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 transaction, the chief financial officer directly owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

PACCAR Price Performance

Shares of PCAR traded down $1.22 during midday trading on Friday, hitting $98.47. 565,252 shares of the company traded hands, compared to its average volume of 2,894,437. The firm has a 50 day moving average of $96.24 and a 200-day moving average of $97.28. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The stock has a market cap of $51.71 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 4.04 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 announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 EPS. On average, analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

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

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.