Tokio Marine Asset Management Co. Ltd. Sells 782 Shares of PACCAR Inc (NASDAQ:PCAR)

Tokio Marine Asset Management Co. Ltd. reduced its position in shares of PACCAR Inc (NASDAQ:PCAR) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,775 shares of the company’s stock after selling 782 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in PACCAR were worth $1,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its position in shares of PACCAR by 13.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,641 shares of the company’s stock worth $451,000 after buying an additional 418 shares in the last quarter. First Foundation Advisors boosted its position in PACCAR by 3.2% in the first quarter. First Foundation Advisors now owns 6,652 shares of the company’s stock worth $824,000 after purchasing an additional 204 shares during the last quarter. TIAA Trust National Association bought a new position in PACCAR in the 1st quarter valued at $312,000. Edgestream Partners L.P. increased its position in shares of PACCAR by 38.1% during the 1st quarter. Edgestream Partners L.P. now owns 7,520 shares of the company’s stock valued at $932,000 after purchasing an additional 2,074 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of PACCAR by 17.5% during the 1st quarter. Covestor Ltd now owns 844 shares of the company’s stock worth $105,000 after purchasing an additional 126 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Down 1.5 %

Shares of NASDAQ PCAR opened at $115.06 on Friday. The business has a 50-day simple moving average of $103.20 and a two-hundred day simple moving average of $102.75. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a market cap of $60.33 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.83 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $2.34 earnings per share. Research analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.04%. PACCAR’s payout ratio is currently 13.41%.

Insider Buying and Selling

In other news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley lowered their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $116.55.

PACCAR Company 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.