PACCAR Inc (NASDAQ:PCAR) Stake Lifted by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in PACCAR Inc (NASDAQ:PCARFree Report) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,488,492 shares of the company’s stock after purchasing an additional 8,422 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of PACCAR worth $126,552,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after purchasing an additional 698,784 shares in the last quarter. State Street Corp boosted its stake in PACCAR by 49.0% during the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after buying an additional 7,020,923 shares in the last quarter. Geode Capital Management LLC boosted its stake in PACCAR by 3.1% during the second quarter. Geode Capital Management LLC now owns 12,106,664 shares of the company’s stock valued at $1,011,209,000 after buying an additional 364,109 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in PACCAR by 98,391.3% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,154,411 shares of the company’s stock valued at $598,467,000 after buying an additional 7,147,147 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in PACCAR by 10.7% during the second quarter. Alliancebernstein L.P. now owns 5,414,169 shares of the company’s stock valued at $452,895,000 after buying an additional 523,460 shares in the last quarter. Institutional investors own 65.68% of the company’s stock.

PACCAR Stock Down 0.6 %

Shares of PACCAR stock opened at $94.05 on Friday. The stock has a 50-day moving average price of $93.65 and a 200 day moving average price of $87.85. The company has a market cap of $49.20 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.25 and a beta of 0.92. The company has a current ratio of 2.61, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. PACCAR Inc has a 1 year low of $64.78 and a 1 year high of $98.47.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.27. PACCAR had a return on equity of 31.31% and a net margin of 12.01%. The company had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.19 billion. During the same period last year, the business earned $1.47 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts expect that PACCAR Inc will post 8.99 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a None dividend, which will be paid on Wednesday, March 6th. Stockholders of record on Wednesday, February 15th will be paid a dividend of $3.20 per share. The ex-dividend date is Wednesday, February 14th. This is an increase from PACCAR’s previous None dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 13.79%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PCAR shares. JPMorgan Chase & Co. raised their target price on PACCAR from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Citigroup upped their target price on PACCAR from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft raised PACCAR from a “hold” rating to a “buy” rating and upped their target price for the company from $94.00 to $115.00 in a report on Wednesday, October 25th. StockNews.com started coverage on PACCAR in a report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Morgan Stanley started coverage on PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.20.

View Our Latest Stock Analysis on PACCAR

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 1,996 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $86.58, for a total transaction of $172,813.68. Following the completion of the sale, the vice president now directly owns 3,230 shares of the company’s stock, valued at approximately $279,653.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Harrie Schippers sold 23,221 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $86.28, for a total transaction of $2,003,507.88. Following the transaction, the chief financial officer now owns 93,522 shares of the company’s stock, valued at approximately $8,069,078.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 1,996 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $86.58, for a total value of $172,813.68. Following the transaction, the vice president now directly owns 3,230 shares in the company, valued at approximately $279,653.40. The disclosure for this sale can be found here. Insiders sold 28,221 shares of company stock valued at $2,426,915 in the last three months. Corporate insiders own 2.06% of the company’s stock.

PACCAR Company Profile

(Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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