UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in PACCAR Inc. $PCAR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PACCAR Inc. (NASDAQ:PCAR) by 9.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,424,315 shares of the company’s stock after buying an additional 305,215 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PACCAR were worth $411,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mufg Securities Americas Inc. boosted its position in PACCAR by 9.0% in the 2nd quarter. Mufg Securities Americas Inc. now owns 15,852 shares of the company’s stock valued at $1,904,000 after buying an additional 1,314 shares during the period. Nissay Asset Management Corp Japan increased its position in shares of PACCAR by 6.0% during the second quarter. Nissay Asset Management Corp Japan now owns 156,784 shares of the company’s stock worth $18,833,000 after acquiring an additional 8,922 shares during the period. Hsbc Holdings PLC increased its position in shares of PACCAR by 19.9% during the second quarter. Hsbc Holdings PLC now owns 1,966,444 shares of the company’s stock worth $236,428,000 after acquiring an additional 326,135 shares during the period. Kingsview Wealth Management LLC bought a new stake in shares of PACCAR during the second quarter valued at approximately $889,000. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of PACCAR during the second quarter valued at approximately $1,386,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In related news, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the transaction, the vice president directly owned 3,831 shares of the company’s stock, valued at $512,970.90. This represents a 43.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 50,975 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the transaction, the chief executive officer owned 268,625 shares in the company, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 56,842 shares of company stock valued at $7,565,677 over the last 90 days. 1.99% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

NASDAQ:PCAR opened at $125.34 on Monday. The firm has a 50-day simple moving average of $127.35 and a 200-day simple moving average of $121.89. PACCAR Inc. has a one year low of $92.25 and a one year high of $139.24. The firm has a market cap of $65.97 billion, a P/E ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. Equities analysts anticipate that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Announces Dividend

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 of this dividend 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 (DPR) is presently 29.41%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PCAR. JPMorgan Chase & Co. boosted their price target on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Truist Financial raised their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Citigroup lifted their target price on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a report on Wednesday, July 29th. Finally, Wells Fargo & Company increased their price target on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $131.70.

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.