PACCAR Inc. $PCAR Stock Position Increased by Aberdeen Group plc

Key Points

• Aberdeen Group increased its PACCAR stake by 396.5% in the third quarter, adding about 2.84 million shares to hold roughly 3.56 million shares, valued at $390.9 million.
• PACCAR reported quarterly earnings of $1.61 per share, matching estimates, while revenue of $8.50 billion exceeded forecasts and rose 20.8% year over year.
• The company declared a quarterly dividend of $0.35 per share, or $1.40 annualized (a 1.3% yield). Analysts’ consensus rating was “Hold,” with an average price target of $131.96.

Aberdeen Group plc grew its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 396.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,559,353 shares of the company's stock after acquiring an additional 2,842,450 shares during the period. Aberdeen Group plc owned about 0.68% of PACCAR worth $390,853,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Moors & Cabot Inc. raised its stake in shares of PACCAR by 23.0% during the 3rd quarter. Moors & Cabot Inc. now owns 2,420 shares of the company's stock valued at $266,000 after buying an additional 453 shares during the last quarter. Citizens & Northern Corp grew its holdings in PACCAR by 4.5% during the third quarter. Citizens & Northern Corp now owns 9,603 shares of the company's stock worth $1,055,000 after acquiring an additional 416 shares during the period. Allworth Financial LP grew its stake in shares of PACCAR by 40.7% during the 3rd quarter. Allworth Financial LP now owns 8,905 shares of the company's stock worth $1,070,000 after purchasing an additional 2,575 shares during the period. Russell Investments Group Ltd. raised its position in shares of PACCAR by 4.3% in the third quarter. Russell Investments Group Ltd. now owns 288,153 shares of the company's stock worth $31,657,000 after acquiring an additional 11,845 shares during the period. Finally, Eurizon Capital SGR S.p.A. increased its holdings in PACCAR by 7.7% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 354,312 shares of the company's stock worth $38,912,000 after acquiring an additional 25,252 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR opened at $106.66 on Friday. The firm's fifty day simple moving average is $110.53 and its 200-day simple moving average is $119.34. The firm has a market capitalization of $56.16 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.36 and a beta of 0.96. PACCAR Inc. has a twelve month low of $93.86 and a twelve month high of $139.24. The company has a current ratio of 3.22, a quick ratio of 2.98 and a debt-to-equity ratio of 0.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $1.61 earnings per share for the quarter, meeting analysts' consensus estimates of $1.61. The firm had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $7.48 billion. PACCAR had a net margin of 9.50% and a return on equity of 13.76%. PACCAR's quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. Equities analysts forecast that PACCAR Inc. will post 5.84 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR's payout ratio is presently 26.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein reissued an "outperform" rating and issued a $148.00 price objective (up from $142.00) on shares of PACCAR in a report on Wednesday, July 29th. Morgan Stanley set a $125.00 price objective on PACCAR and gave the company an "equal weight" rating in a report on Friday, September 4th. Truist Financial decreased their target price on PACCAR from $125.00 to $124.00 and set a "hold" rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings restated a "hold (c+)" rating on shares of PACCAR in a report on Tuesday, August 18th. Finally, Jefferies Financial Group boosted their price target on shares of PACCAR from $120.00 to $140.00 and gave the stock a "hold" rating in a research note on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $131.96.

PACCAR Profile

PACCAR Inc. is a global manufacturer of commercial trucks and a provider of related products and services. Its truck brands include Kenworth and Peterbilt in North America and DAF in Europe. The company also manufactures engines and supplies replacement parts and aftermarket support for its vehicles. PACCAR serves customers through manufacturing, sales and service operations across North America, Europe and other international markets. Its businesses also include PACCAR Financial, which provides financing and leasing solutions to truck customers and dealers.

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