AIA Group Ltd Purchases 15,800 Shares of PACCAR Inc. $PCAR

AIA Group Ltd increased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 17.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 108,600 shares of the company’s stock after buying an additional 15,800 shares during the period. AIA Group Ltd’s holdings in PACCAR were worth $12,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of PCAR. Ares Financial Consulting LLC purchased a new stake in PACCAR in the 4th quarter worth about $27,000. MCF Advisors LLC boosted its stake in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares during the period. Steph & Co. bought a new stake in PACCAR during the first quarter valued at $29,000. Elyxium Wealth LLC bought a new stake in PACCAR during the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new position in PACCAR in the 3rd quarter worth approximately $32,000. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PCAR shares. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Citigroup restated a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Finally, Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $124.18.

PACCAR Stock Performance

Shares of PCAR opened at $126.20 on Friday. The business’s fifty day simple moving average is $117.32 and its two-hundred day simple moving average is $119.60. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The company has a market cap of $66.42 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.16 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. Research analysts anticipate that PACCAR Inc. will post 5.65 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio is 29.79%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.