Elo Mutual Pension Insurance Co Reduces Holdings in PACCAR Inc (NASDAQ:PCAR)

Elo Mutual Pension Insurance Co lessened its stake in PACCAR Inc (NASDAQ:PCAR) by 21.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 36,322 shares of the company’s stock after selling 9,946 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PACCAR were worth $3,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new position in PACCAR during the 4th quarter worth approximately $1,035,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in PACCAR by 4.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 860,827 shares of the company’s stock worth $90,301,000 after purchasing an additional 40,094 shares during the period. Korea Investment CORP grew its position in PACCAR by 52.3% during the 4th quarter. Korea Investment CORP now owns 343,238 shares of the company’s stock worth $35,704,000 after purchasing an additional 117,913 shares during the last quarter. Financial Engines Advisors L.L.C. raised its holdings in shares of PACCAR by 61.0% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 6,031 shares of the company’s stock valued at $627,000 after buying an additional 2,284 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of PACCAR by 106.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 17,893 shares of the company’s stock worth $1,861,000 after buying an additional 9,227 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $96.91 on Friday. 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 Inc has a 12 month low of $90.04 and a 12 month high of $124.39. The company has a fifty day moving average price of $105.19 and a two-hundred day moving average price of $106.55. The company has a market cap of $50.87 billion, a PE ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 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%. Research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent research reports. Evercore ISI dropped their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and lowered their target price for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.38.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

About PACCAR

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.