Advisors Asset Management Inc. Purchases 19,560 Shares of PACCAR Inc. $PCAR

Advisors Asset Management Inc. raised its stake in PACCAR Inc. (NASDAQ:PCAR) by 27.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,147 shares of the company’s stock after purchasing an additional 19,560 shares during the period. Advisors Asset Management Inc.’s holdings in PACCAR were worth $8,664,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PCAR. FORA Capital LLC acquired a new position in PACCAR in the 1st quarter valued at $597,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of PACCAR by 77.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock valued at $22,631,000 after acquiring an additional 103,664 shares in the last quarter. Assenagon Asset Management S.A. increased its position in PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after acquiring an additional 88,551 shares during the period. Jump Financial LLC boosted its holdings in PACCAR by 757.1% in the 1st quarter. Jump Financial LLC now owns 55,263 shares of the company’s stock valued at $5,381,000 after purchasing an additional 48,815 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of PACCAR by 177.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock worth $255,187,000 after purchasing an additional 1,677,736 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $104.92 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.57. The stock has a market cap of $55.10 billion, a PE ratio of 20.53, a P/E/G ratio of 4.11 and a beta of 0.95. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The business’s 50-day moving average price is $98.06 and its two-hundred day moving average price is $97.20.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.85 earnings per share. As a group, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR’s dividend payout ratio is 25.83%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Evercore ISI set a $114.00 target price on PACCAR and gave the company an “outperform” rating in a research report on Tuesday, August 19th. UBS Group set a $103.00 price target on PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company assumed coverage on PACCAR in a research note on Thursday, November 13th. They issued a “positive” rating and a $106.00 price target for the company. Finally, Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $106.54.

PACCAR 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.