Aaron Wealth Advisors LLC Buys 2,150 Shares of PACCAR Inc (NASDAQ:PCAR)

Aaron Wealth Advisors LLC grew its stake in PACCAR Inc (NASDAQ:PCAR) by 72.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,128 shares of the company’s stock after buying an additional 2,150 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in PACCAR were worth $506,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Dimensional Fund Advisors LP lifted its stake in shares of PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares in the last quarter. Legal & General Group Plc boosted its stake in PACCAR by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after purchasing an additional 242,435 shares during the period. Capital International Investors grew its stake in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of PACCAR by 1.5% during the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after purchasing an additional 48,784 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of PACCAR by 24.3% in the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after purchasing an additional 504,346 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCAR has been the topic of several recent analyst reports. Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Citigroup lifted their price objective on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Evercore ISI dropped their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average target price of $114.00.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR opened at $110.09 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The stock has a 50-day moving average of $98.19 and a two-hundred day moving average of $103.85. The stock has a market cap of $57.71 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.68 and a beta of 0.91. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the company earned $2.33 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc will post 8.06 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.71%.

About PACCAR

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.