Asset Management One Co. Ltd. Increases Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Asset Management One Co. Ltd. raised its stake in PACCAR Inc. (NASDAQ:PCAR) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,068 shares of the company’s stock after purchasing an additional 12,868 shares during the period. Asset Management One Co. Ltd.’s holdings in PACCAR were worth $21,039,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its stake in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Sunbelt Securities Inc. increased its stake in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after purchasing an additional 350 shares during the last quarter. OFI Invest Asset Management purchased a new position in PACCAR in the fourth quarter valued at approximately $43,000. Atala Financial Inc purchased a new position in PACCAR in the fourth quarter valued at approximately $43,000. Finally, JFS Wealth Advisors LLC grew its position in shares of PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after acquiring an additional 174 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares in the company, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is owned by corporate insiders.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $94.14 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. The stock has a fifty day moving average price of $92.43 and a 200 day moving average price of $100.01. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a market cap of $49.42 billion, a PE ratio of 14.26, a P/E/G ratio of 3.48 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same period in the prior year, the business earned $2.27 earnings per share. PACCAR’s revenue for the quarter was down 16.0% compared to the same quarter last year. Sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Citigroup raised their target price on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday. Truist Financial lowered their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI lowered their target price on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, May 19th. Finally, Royal Bank Of Canada lowered their target price on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $104.59.

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.