PACCAR Inc (NASDAQ:PCAR) Stock Holdings Increased by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 18.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,843 shares of the company’s stock after purchasing an additional 1,086 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in PACCAR were worth $675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its holdings in shares of PACCAR by 4.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after acquiring an additional 27,963 shares during the period. BDF Gestion acquired a new stake in shares of PACCAR during the second quarter valued at approximately $2,862,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of PACCAR by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares during the period. Virtu Financial LLC acquired a new stake in shares of PACCAR during the first quarter valued at approximately $1,359,000. Finally, Comerica Bank raised its holdings in shares of PACCAR by 8.7% during the first quarter. Comerica Bank now owns 162,864 shares of the company’s stock valued at $20,177,000 after acquiring an additional 13,075 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PCAR shares. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a research report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley lowered their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial boosted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.55.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the company’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 completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO R Preston Feight sold 27,191 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,315 shares of company stock valued at $6,358,552. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded up $0.14 during trading hours on Wednesday, hitting $116.93. 251,126 shares of the stock were exchanged, compared to its average volume of 2,631,605. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company’s 50 day moving average is $102.77 and its 200 day moving average is $102.65. The firm has a market capitalization of $61.31 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.82 and a beta of 0.89. PACCAR Inc has a one year low of $88.97 and a one year high of $125.50.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

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.