UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Holdings in PACCAR Inc. $PCAR

Key Points

• UBS Asset Management's distinct unit increased its holdings in PACCAR Inc. by 2.8%, owning 2,980,515 shares valued at approximately $290 million by the end of the first quarter.
• PACCAR is reporting mixed financials, with earnings per share of $1.37 exceeding estimates, but revenue of $6.96 billion falling short of expectations by 15.7% year-on-year.
• The company declared a quarterly dividend of $0.33 per share, with the ex-dividend date set for November 12th, indicating a 1.3% dividend yield.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,980,515 shares of the company's stock after purchasing an additional 82,329 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.57% of PACCAR worth $290,213,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of PACCAR during the first quarter worth approximately $29,000. Sunbelt Securities Inc. raised its stake in shares of PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Bayforest Capital Ltd increased its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after buying an additional 274 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of PACCAR in the first quarter worth $40,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PCAR shares. Truist Financial reduced their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on shares of PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Citigroup upped their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. boosted their target price on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.68.

Insiders Place Their Bets

In related 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 directly owned 223,190 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

PACCAR Trading Up 1.2%

PACCAR stock opened at $98.66 on Thursday. The firm has a 50 day moving average of $98.29 and a 200 day moving average of $96.22. The firm has a market capitalization of $51.81 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 3.92 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR's dividend payout ratio is currently 22.60%.

PACCAR Company 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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