Mirae Asset Global Investments Co. Ltd. Reduces Stock Position in PACCAR Inc (NASDAQ:PCAR)

Mirae Asset Global Investments Co. Ltd. cut its stake in PACCAR Inc (NASDAQ:PCAR) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 154,308 shares of the company’s stock after selling 11,202 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PACCAR were worth $16,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Grove Bank & Trust grew its holdings in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after buying an additional 103 shares in the last quarter. Sander Capital Advisors Inc. purchased a new position in PACCAR during the third quarter valued at approximately $50,000. Ashton Thomas Securities LLC purchased a new position in PACCAR during the third quarter valued at approximately $52,000. AdvisorNet Financial Inc increased its holdings in PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after acquiring an additional 391 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in PACCAR in the 4th quarter worth approximately $76,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

PACCAR stock opened at $106.99 on Thursday. The firm has a fifty day simple moving average of $110.07 and a two-hundred day simple moving average of $104.53. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a market capitalization of $56.09 billion, a PE ratio of 13.53, a P/E/G ratio of 2.87 and a beta of 0.92. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts expect that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is currently 15.17%.

Insider Buying and Selling

In other news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,871 shares of company stock valued at $14,586,333 over the last three months. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

PACCAR Profile

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.