Nissay Asset Management Corp Japan ADV Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

Nissay Asset Management Corp Japan ADV grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,660 shares of the company’s stock after purchasing an additional 3,964 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in PACCAR were worth $12,408,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in PACCAR during the 4th quarter valued at about $526,922,000. Kovitz Investment Group Partners LLC lifted its position in PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock valued at $557,453,000 after purchasing an additional 4,219,964 shares during the last quarter. Wellington Management Group LLP lifted its position in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $254,651,000. Finally, JPMorgan Chase & Co. increased its stake in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PCAR shares. Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. StockNews.com raised PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Citigroup lowered their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley cut shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price on the stock. in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PACCAR has an average rating of “Hold” and an average target price of $105.23.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $94.65 on Thursday. PACCAR Inc has a twelve month low of $84.65 and a twelve month high of $118.81. The company’s 50 day moving average is $93.79 and its 200 day moving average is $104.01. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market cap of $49.69 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

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 23.53% and a net margin of 12.36%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the company posted $2.27 EPS. PACCAR’s quarterly revenue was down 16.0% compared to the same quarter last year. On average, sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.39%. PACCAR’s dividend payout ratio (DPR) is presently 20.00%.

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.