PACCAR Inc. $PCAR Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its shareholding in PACCAR Inc. by 0.7%, owning a total of 403,517 shares valued at approximately $39.29 million.
• PACCAR's recent quarterly earnings report showed an EPS of $1.37, exceeding estimates but reflecting a 15.7% year-over-year revenue decline.
• Analysts have mixed views on PACCAR, with an average price target of $107.68 and a consensus rating of "Moderate Buy", indicating potential for future growth.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,517 shares of the company's stock after purchasing an additional 2,739 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of PACCAR worth $39,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. grew its stake in PACCAR by 33.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after purchasing an additional 116 shares in the last quarter. RMR Wealth Builders grew its stake in PACCAR by 1.4% during the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock worth $848,000 after purchasing an additional 122 shares in the last quarter. Applied Capital LLC FL grew its stake in PACCAR by 0.5% during the 1st quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after purchasing an additional 124 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in PACCAR by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after purchasing an additional 130 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its stake in PACCAR by 5.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock worth $228,000 after purchasing an additional 130 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

NASDAQ PCAR opened at $99.05 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a market capitalization of $52.01 billion, a PE ratio of 16.96, a P/E/G ratio of 3.98 and a beta of 0.94. The company has a fifty day moving average of $98.25 and a two-hundred day moving average of $96.31.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. PACCAR's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a $0.33 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's payout ratio is currently 22.60%.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Evercore ISI set a $114.00 price target on PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Citigroup raised their price target on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and raised their price target for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Truist Financial cut their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of "Moderate Buy" and an average price target of $107.68.

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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