Sumitomo Mitsui Trust Holdings Inc. Sells 107,149 Shares of PACCAR Inc (NASDAQ:PCAR)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 7.3% in the 1st quarter, Holdings Channel reports. The firm owned 1,368,875 shares of the company’s stock after selling 107,149 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in PACCAR were worth $169,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Federated Hermes Inc. lifted its holdings in PACCAR by 51.6% in the third quarter. Federated Hermes Inc. now owns 3,833 shares of the company’s stock valued at $326,000 after acquiring an additional 1,305 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in PACCAR in the third quarter worth approximately $1,501,000. Advisors Asset Management Inc. boosted its stake in shares of PACCAR by 21.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,732 shares of the company’s stock worth $742,000 after acquiring an additional 1,532 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of PACCAR by 44.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 902,890 shares of the company’s stock worth $76,766,000 after purchasing an additional 278,054 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in PACCAR by 521.8% in the 3rd quarter. Alps Advisors Inc. now owns 27,323 shares of the company’s stock worth $2,323,000 after purchasing an additional 22,929 shares during the period. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 0.7 %

Shares of NASDAQ:PCAR traded up $0.66 on Wednesday, hitting $101.57. 390,880 shares of the company’s stock were exchanged, compared to its average volume of 2,521,977. The stock has a market capitalization of $53.24 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92. PACCAR Inc has a 12 month low of $80.91 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The business’s 50 day simple moving average is $107.39 and its two-hundred day simple moving average is $107.81.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 EPS. Analysts anticipate that PACCAR Inc will post 8.34 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.30 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders sold 45,040 shares of company stock worth $4,779,241 over the last three months. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PCAR shares. Citigroup began coverage on PACCAR in a research report on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price objective on the stock. Raymond James initiated coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. StockNews.com cut PACCAR from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.92.

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.