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

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in PACCAR Inc (NASDAQ:PCARFree Report) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,488,492 shares of the company’s stock after acquiring an additional 8,422 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of PACCAR worth $126,552,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. BDO Wealth Advisors LLC lifted its stake in PACCAR by 1.4% in the 2nd quarter. BDO Wealth Advisors LLC now owns 8,789 shares of the company’s stock worth $735,000 after acquiring an additional 120 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in PACCAR by 1.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,654 shares of the company’s stock worth $557,000 after acquiring an additional 124 shares in the last quarter. Penserra Capital Management LLC lifted its stake in PACCAR by 8.2% in the 1st quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock worth $145,000 after acquiring an additional 125 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in PACCAR by 1.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 12,257 shares of the company’s stock worth $1,025,000 after acquiring an additional 132 shares in the last quarter. 65.68% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $94.05 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.61. The firm has a market cap of $49.20 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.25 and a beta of 0.92. The business’s 50-day simple moving average is $93.65 and its 200-day simple moving average is $87.85. PACCAR Inc has a 52 week low of $64.78 and a 52 week high of $98.47.

PACCAR (NASDAQ:PCARGet Free Report) last released its earnings results on Tuesday, October 24th. The company reported $2.34 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same quarter last year, the firm posted $1.47 EPS. The company’s revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc will post 8.99 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Wednesday, March 6th. Shareholders of record on Wednesday, February 15th will be given a $3.20 dividend. 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 currently 13.79%.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 1,996 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $86.58, for a total value of $172,813.68. Following the completion of the sale, the vice president now owns 3,230 shares in the company, valued at approximately $279,653.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Todd R. Hubbard sold 1,996 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 3,230 shares in the company, valued at approximately $279,653.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Harrie Schippers sold 23,221 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $86.28, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders sold 28,221 shares of company stock worth $2,426,915. 2.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent research reports. Citigroup raised their price target on PACCAR from $90.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft raised PACCAR from a “hold” rating to a “buy” rating and raised their price target for the stock from $94.00 to $115.00 in a research note on Wednesday, October 25th. Morgan Stanley initiated coverage on PACCAR in a research note on Monday, January 8th. They set an “overweight” rating and a $125.00 price target for the company. JPMorgan Chase & Co. raised their price target on PACCAR from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 25th. Finally, StockNews.com initiated coverage on PACCAR in a research note on Thursday, October 5th. They set a “buy” rating for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.20.

Get Our Latest Stock Analysis on PCAR

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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