AIA Group Ltd Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

AIA Group Ltd lowered its stake in PACCAR Inc (NASDAQ:PCAR) by 24.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,228 shares of the company’s stock after selling 5,186 shares during the period. AIA Group Ltd’s holdings in PACCAR were worth $1,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of PACCAR by 9.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 65,398 shares of the company’s stock valued at $6,803,000 after buying an additional 5,766 shares during the period. Brandywine Global Investment Management LLC raised its holdings in shares of PACCAR by 91.2% during the fourth quarter. Brandywine Global Investment Management LLC now owns 658,861 shares of the company’s stock valued at $68,535,000 after acquiring an additional 314,299 shares in the last quarter. RWA Wealth Partners LLC raised its holdings in shares of PACCAR by 133.7% during the fourth quarter. RWA Wealth Partners LLC now owns 5,665 shares of the company’s stock valued at $589,000 after acquiring an additional 3,241 shares in the last quarter. Finally, Allianz SE purchased a new stake in PACCAR in the fourth quarter worth $2,667,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last 90 days. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Citigroup reduced their target price on PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Truist Financial raised their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.54.

PACCAR Stock Up 0.5 %

PCAR opened at $97.37 on Tuesday. The stock has a market capitalization of $51.11 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 2.77 and a beta of 0.91. The firm has a 50 day moving average price of $104.93 and a 200-day moving average price of $106.74. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $124.39. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

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.