Asset Management One Co. Ltd. Has $20.92 Million Stock Holdings in PACCAR Inc. $PCAR

Asset Management One Co. Ltd. increased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,055 shares of the company’s stock after purchasing an additional 3,987 shares during the period. Asset Management One Co. Ltd.’s holdings in PACCAR were worth $20,918,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FORA Capital LLC acquired a new position in PACCAR in the first quarter worth about $597,000. Cambridge Investment Research Advisors Inc. raised its position in PACCAR by 62.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock worth $3,533,000 after purchasing an additional 13,904 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in PACCAR by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock worth $1,262,000 after purchasing an additional 4,429 shares in the last quarter. Stack Financial Management Inc acquired a new position in PACCAR in the first quarter worth about $20,585,000. Finally, Assenagon Asset Management S.A. raised its position in PACCAR by 46.0% in the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after purchasing an additional 88,551 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is owned by company insiders.

PACCAR Price Performance

PCAR opened at $100.13 on Friday. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 2.80. The company’s 50 day simple moving average is $98.52 and its 200-day simple moving average is $95.77. The stock has a market capitalization of $52.58 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the company earned $1.85 earnings per share. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. Sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio is 25.83%.

Analyst Ratings Changes

Several research firms recently issued reports on PCAR. Truist Financial increased their price target on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Wall Street Zen lowered shares of PACCAR from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research lowered shares of PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Finally, Morgan Stanley set a $90.00 price objective on shares of PACCAR in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PACCAR currently has an average rating of “Hold” and an average price target of $106.59.

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.