Mufg Securities Americas Inc. Invests $805,000 in PACCAR Inc (NASDAQ:PCAR)

Mufg Securities Americas Inc. acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,741 shares of the company’s stock, valued at approximately $805,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after buying an additional 193 shares during the period. Golden State Wealth Management LLC purchased a new position in PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC purchased a new position in PACCAR during the fourth quarter worth about $37,000. OFI Invest Asset Management acquired a new position in PACCAR during the fourth quarter worth approximately $43,000. Finally, Atala Financial Inc acquired a new position in PACCAR during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCAR. Citigroup decreased their price target on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Evercore ISI dropped their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. Royal Bank of Canada cut their price target on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a report on Thursday, May 8th. Finally, StockNews.com upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.23.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 114,659 shares in the company, valued at $12,150,414.23. This represents a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Down 1.7%

NASDAQ PCAR opened at $94.65 on Thursday. The company’s fifty day moving average price is $93.79 and its two-hundred day moving average price is $104.01. The company has a market capitalization of $49.69 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. 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 data 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 net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the firm earned $2.27 earnings per share. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. As a group, research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

PACCAR Company 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.