PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,173 shares of the company’s stock after purchasing an additional 4,682 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PACCAR were worth $7,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. Erste Asset Management GmbH purchased a new stake in PACCAR during the third quarter worth $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in PACCAR by 115.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after buying an additional 576,532 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PCAR shares. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Citigroup lowered their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

PACCAR Price Performance

PACCAR stock opened at $106.02 on Friday. The company has a fifty day simple moving average of $109.71 and a 200-day simple moving average of $104.57. The firm has a market capitalization of $55.59 billion, a price-to-earnings ratio of 13.40, a PEG 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 Inc has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities analysts anticipate that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is owned by corporate insiders.

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.