Resona Asset Management Co. Ltd. Acquires 10,282 Shares of PACCAR Inc. $PCAR

Resona Asset Management Co. Ltd. lifted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 177,231 shares of the company’s stock after buying an additional 10,282 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in PACCAR were worth $16,843,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. FORA Capital LLC bought a new position in PACCAR in the 1st quarter worth $597,000. Stack Financial Management Inc purchased a new position in shares of PACCAR during the first quarter valued at approximately $20,585,000. Assenagon Asset Management S.A. raised its stake in PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after buying an additional 88,551 shares during the last quarter. Jump Financial LLC raised its position in shares of PACCAR by 757.1% in the 1st quarter. Jump Financial LLC now owns 55,263 shares of the company’s stock worth $5,381,000 after purchasing an additional 48,815 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of PACCAR by 177.9% in the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company’s stock worth $255,187,000 after buying an additional 1,677,736 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

PCAR stock opened at $98.69 on Friday. The stock has a market cap of $51.83 billion, a PE ratio of 19.31, a P/E/G ratio of 4.11 and a beta of 0.95. The company has a 50-day moving average price of $98.31 and a 200 day moving average price of $96.41. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

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

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on PCAR shares. UBS Group set a $103.00 price objective on PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Zacks Research cut PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Vertical Research upgraded shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Morgan Stanley set a $90.00 price objective on PACCAR in a research note on Tuesday, October 21st. Finally, Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an “outperform” rating in a report on Tuesday, August 19th. Two investment 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 issued a Sell rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $106.59.

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.