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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,424,315 shares of the company’s stock after acquiring an additional 305,215 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.65% of PACCAR worth $411,329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Ancora Advisors LLC bought a new stake in PACCAR in the 2nd quarter valued at $16,286,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after purchasing an additional 9,524 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Swiss Life Asset Management Ltd grew its position in shares of PACCAR by 118.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock valued at $69,943,000 after purchasing an additional 345,937 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of PACCAR in the first quarter worth about $9,273,000. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In related news, VP William Lance Walters sold 1,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the sale, the chief executive officer directly owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 56,842 shares of company stock valued at $7,565,677. Company insiders own 1.99% of the company’s stock.

PACCAR Price Performance

Shares of PCAR opened at $125.34 on Monday. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $127.35 and a 200 day moving average of $121.89. The company has a market cap of $65.97 billion, a PE ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.97. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the previous year, the business posted $1.37 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts expect that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 29.41%.

Analyst Ratings Changes

PCAR has been the subject of a number of research reports. Truist Financial increased their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Citigroup increased 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. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Finally, Wells Fargo & Company boosted their price target on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, PACCAR has an average 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.