AIA Group Ltd Trims Position in PACCAR Inc (NASDAQ:PCAR)

AIA Group Ltd lessened its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing 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 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR during the fourth quarter valued at approximately $37,000. OFI Invest Asset Management bought a new position in PACCAR in the fourth quarter worth approximately $43,000. Atala Financial Inc purchased a new position in shares of PACCAR during the 4th quarter worth $43,000. Finally, Regents Gate Capital LLP bought a new stake in shares of PACCAR during the 4th quarter valued at $44,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. UBS Group cut PACCAR from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and increased their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Citigroup lowered their price target on shares of PACCAR from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and an average target price of $117.54.

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PACCAR Price Performance

Shares of PCAR traded down $1.35 during midday trading on Friday, hitting $91.01. 4,420,547 shares of the company traded hands, compared to its average volume of 2,665,525. The stock has a market cap of $47.77 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 2.77 and a beta of 0.96. The firm has a 50 day moving average of $104.12 and a 200-day moving average of $106.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 52 week low of $89.74 and a 52 week high of $123.20.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This is an increase from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.45%. PACCAR's dividend payout ratio is presently 16.69%.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company's stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last 90 days. 2.02% of the stock is owned by insiders.

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.