PACCAR Inc. $PCAR Shares Purchased by American Century Companies Inc.

Key Points

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American Century Companies Inc. raised its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 16.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 733,561 shares of the company's stock after purchasing an additional 102,192 shares during the period. American Century Companies Inc. owned 0.14% of PACCAR worth $71,427,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in PACCAR by 15.1% in 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 during the period. Cambridge Investment Research Advisors Inc. lifted its position in PACCAR by 62.1% in 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 during the period. China Universal Asset Management Co. Ltd. lifted its position in PACCAR by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after purchasing an additional 4,429 shares during the period. Moran Wealth Management LLC lifted its position in PACCAR by 28.8% in the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after purchasing an additional 52,525 shares during the period. Finally, Stack Financial Management Inc acquired a new stake in PACCAR in the first quarter worth approximately $20,585,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the firm'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 completion of the sale, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% 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 Stock Performance

Shares of PACCAR stock opened at $98.38 on Tuesday. The stock has a market cap of $51.66 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 3.94 and a beta of 0.91. The business has a fifty day simple moving average of $96.42 and a 200-day simple moving average of $96.93. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 earnings per share. On average, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

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

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research analyst reports. Argus upgraded PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a research report on Monday, July 28th. Vertical Research upgraded PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Evercore ISI dropped their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, PACCAR currently has an average rating of "Moderate Buy" and an average price target of $107.77.

PACCAR 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.

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