American International Group Inc. Has $17.38 Million Stake in PACCAR Inc (NASDAQ:PCAR)

American International Group Inc. grew its stake in PACCAR Inc (NASDAQ:PCARFree Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,996 shares of the company’s stock after purchasing an additional 4,124 shares during the period. American International Group Inc.’s holdings in PACCAR were worth $17,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Norges Bank bought a new stake in shares of PACCAR during the fourth quarter worth $448,288,000. TD Asset Management Inc increased its holdings in PACCAR by 112.2% in the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after purchasing an additional 1,095,894 shares in the last quarter. Point72 Asset Management L.P. bought a new position in PACCAR in the fourth quarter valued at about $87,441,000. Epoch Investment Partners Inc. boosted its stake in shares of PACCAR by 113.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after purchasing an additional 562,571 shares in the last quarter. Finally, Optimist Retirement Group LLC acquired a new position in shares of PACCAR in the fourth quarter valued at approximately $37,032,000. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares in the company, valued at approximately $154,301.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock valued at $4,779,241 over the last 90 days. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Evercore ISI boosted their price target on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $112.62.

Read Our Latest Stock Analysis on PACCAR

PACCAR Stock Down 0.4 %

NASDAQ PCAR traded down $0.38 during mid-day trading on Friday, hitting $106.72. The company’s stock had a trading volume of 2,147,627 shares, compared to its average volume of 2,431,477. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The company’s 50 day simple moving average is $109.86 and its 200 day simple moving average is $106.89. PACCAR Inc has a twelve month low of $76.88 and a twelve month high of $125.50. The firm has a market capitalization of $55.94 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.63 and a beta of 0.94.

PACCAR (NASDAQ:PCARGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts anticipate that PACCAR Inc will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

About PACCAR

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.