The Manufacturers Life Insurance Company Grows Position in PACCAR Inc. $PCAR

Key Points

• The Manufacturers Life Insurance Company has significantly increased its holdings in PACCAR Inc. by 177.9%, acquiring an additional 1,677,736 shares, bringing its total ownership to approximately 2.62 million shares valued at $255 million.
• Insider activity includes CFO Brice J. Poplawski and CEO R Preston Feight selling significant portions of their shares, with Poplawski selling 5,000 shares for over $500,000 and Feight selling nearly 40,000 shares for nearly $4 million.
• Several analysts have upgraded PACCAR’s stock ratings, with UBS Group raising their price objective from $81.00 to $100.00, while Argus set a target price of $121.00, reflecting strong confidence in the company's performance.

The Manufacturers Life Insurance Company lifted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 177.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,620,798 shares of the company's stock after buying an additional 1,677,736 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.50% of PACCAR worth $255,187,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Royal Bank Of Canada dropped their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Finally, Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a report on Monday, July 28th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $107.68.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 1.1%

PACCAR stock traded down $1.12 during midday trading on Tuesday, hitting $98.86. 2,690,954 shares of the company's stock were exchanged, compared to its average volume of 2,853,186. 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 Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The firm has a 50-day moving average of $97.96 and a two-hundred day moving average of $96.47. The company has a market cap of $51.91 billion, a PE ratio of 16.93, a P/E/G ratio of 4.01 and a beta of 0.94.

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

PACCAR Announces Dividend

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