AIA Group Ltd Buys 9,822 Shares of PACCAR Inc. $PCAR

AIA Group Ltd lifted its stake in PACCAR Inc. (NASDAQ:PCAR) by 60.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,040 shares of the company’s stock after purchasing an additional 9,822 shares during the period. AIA Group Ltd’s holdings in PACCAR were worth $2,560,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Private Wealth Management Group LLC raised its position in shares of PACCAR by 293.1% during the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 211 shares during the last quarter. Wealth Watch Advisors INC bought a new position in PACCAR in the third quarter valued at about $32,000. AlphaQuest LLC acquired a new stake in PACCAR in the third quarter worth about $38,000. Westside Investment Management Inc. increased its position in PACCAR by 100.0% in the third quarter. Westside Investment Management Inc. now owns 432 shares of the company’s stock worth $42,000 after purchasing an additional 216 shares during the period. Finally, Rothschild Investment LLC raised its holdings in PACCAR by 121.4% during the 3rd quarter. Rothschild Investment LLC now owns 828 shares of the company’s stock worth $81,000 after purchasing an additional 454 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PCAR shares. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Citigroup raised their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Truist Financial lifted their target price on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.18.

PACCAR Stock Down 1.6%

Shares of NASDAQ:PCAR opened at $112.85 on Friday. The company has a 50 day moving average price of $122.69 and a two-hundred day moving average price of $109.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The company has a market capitalization of $59.35 billion, a PE ratio of 25.02, a PEG ratio of 0.96 and a beta of 1.03. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the business posted $1.66 earnings per share. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. Analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

Insider Transactions at PACCAR

In related news, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares in the company, valued at $4,433,195.52. This trade represents a 69.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the completion of the sale, the vice president directly owned 6,274 shares in the company, valued at $768,125.82. This represents a 66.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 133,105 shares of company stock valued at $16,869,046. 2.02% of the stock is currently owned by insiders.

PACCAR Company Profile

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.