PACCAR Inc (NASDAQ:PCAR) Stock Position Boosted by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 33.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,151 shares of the company’s stock after buying an additional 788 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in PACCAR were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. SVB Wealth LLC boosted its stake in PACCAR by 31.1% during the 4th quarter. SVB Wealth LLC now owns 4,138 shares of the company’s stock valued at $404,000 after purchasing an additional 981 shares in the last quarter. Federated Hermes Inc. boosted its stake in PACCAR by 125.5% during the fourth quarter. Federated Hermes Inc. now owns 8,643 shares of the company’s stock valued at $844,000 after buying an additional 4,810 shares in the last quarter. Xponance Inc. grew its holdings in PACCAR by 1.7% during the fourth quarter. Xponance Inc. now owns 69,671 shares of the company’s stock worth $6,803,000 after acquiring an additional 1,146 shares during the period. Fidelis Capital Partners LLC raised its position in PACCAR by 22.7% in the fourth quarter. Fidelis Capital Partners LLC now owns 3,286 shares of the company’s stock worth $321,000 after acquiring an additional 608 shares in the last quarter. Finally, Greenleaf Trust lifted its holdings in PACCAR by 1.6% in the 4th quarter. Greenleaf Trust now owns 11,304 shares of the company’s stock valued at $1,104,000 after acquiring an additional 178 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Evercore ISI lowered their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday. Truist Financial dropped their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $112.73.

PACCAR Stock Down 0.3 %

Shares of PCAR stock traded down $0.29 during trading on Tuesday, hitting $95.68. 237,423 shares of the company were exchanged, compared to its average volume of 2,646,701. The business’s 50-day simple moving average is $101.17 and its 200 day simple moving average is $108.29. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The firm has a market capitalization of $50.16 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.45 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period last year, the business earned $2.33 EPS. The company’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts forecast that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

PACCAR Company 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.