153,294 Shares in PACCAR Inc (NASDAQ:PCAR) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new position in PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 153,294 shares of the company’s stock, valued at approximately $15,958,000.

A number of other institutional investors have also bought and sold shares of PCAR. World Investment Advisors increased its holdings in shares of PACCAR by 5.8% in the 4th quarter. World Investment Advisors now owns 4,490 shares of the company’s stock worth $467,000 after buying an additional 246 shares during the last quarter. Nicolet Advisory Services LLC boosted its position in PACCAR by 3.7% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,502 shares of the company’s stock valued at $373,000 after buying an additional 125 shares during the period. Huntington National Bank lifted its holdings in shares of PACCAR by 126.8% in the 4th quarter. Huntington National Bank now owns 2,386 shares of the company’s stock worth $248,000 after buying an additional 1,334 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in PACCAR by 5.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock worth $1,119,997,000 after acquiring an additional 572,231 shares in the last quarter. Finally, RFG Bristol Wealth Advisors LLC purchased a new position in PACCAR during the fourth quarter valued at approximately $444,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the business’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 sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is owned by insiders.

PACCAR Trading Down 1.6 %

Shares of PCAR stock opened at $90.88 on Friday. PACCAR Inc has a 1-year low of $89.67 and a 1-year high of $123.20. The firm’s 50-day simple moving average is $103.74 and its 200-day simple moving average is $106.63. The firm has a market cap of $47.71 billion, a P/E ratio of 11.49, a PEG ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results 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%. As a group, equities analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.45%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is presently 16.69%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PCAR shares. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and dropped their target price for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reduced their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PACCAR has an average rating of “Moderate Buy” and a consensus target price of $117.54.

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.