PACCAR Inc. $PCAR Shares Acquired by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan grew its position in PACCAR Inc. (NASDAQ:PCAR) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,784 shares of the company’s stock after acquiring an additional 8,922 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in PACCAR were worth $18,833,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the last quarter. Focus Partners Wealth boosted its stake in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after purchasing an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after purchasing an additional 5,327 shares during the last quarter. Ieq Capital LLC grew its holdings in shares of PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of PACCAR during the second quarter worth $81,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCAR. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $119.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Citigroup raised their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $131.70.

Insider Activity

In other news, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the transaction, the chief financial officer owned 1,391 shares in the company, valued at $184,307.50. This represents a 58.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 in the last 90 days. 1.99% of the stock is owned by corporate insiders.

PACCAR Trading Down 0.9%

Shares of PCAR opened at $125.34 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The firm has a 50-day moving average price of $127.35 and a 200 day moving average price of $121.93. The firm has a market capitalization of $65.97 billion, a P/E ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. PACCAR’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts forecast that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.