Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stock Position in PACCAR Inc (NASDAQ:PCAR)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,375 shares of the company’s stock after selling 361 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PACCAR were worth $6,384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PCAR. OFI Invest Asset Management purchased a new stake in shares of PACCAR during the third quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its stake in shares of PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares during the last quarter. Arlington Trust Co LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at $30,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of PACCAR in the 1st quarter valued at $33,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. TD Cowen raised their price target on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Evercore ISI increased their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Morgan Stanley started coverage on PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective for the company. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $110.82.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last ninety days. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Down 2.3 %

NASDAQ:PCAR opened at $111.19 on Monday. The firm has a market capitalization of $58.26 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.67 and a beta of 0.92. The stock has a 50 day moving average of $115.97 and a 200-day moving average of $101.06. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Analysts predict that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.97%. PACCAR’s dividend payout ratio (DPR) is 12.31%.

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.