PACCAR Inc (NASDAQ:PCAR) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its position in PACCAR Inc (NASDAQ:PCAR) by 106.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,893 shares of the company’s stock after acquiring an additional 9,227 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in PACCAR were worth $1,861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PCAR. Wellington Management Group LLP grew its holdings in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. JPMorgan Chase & Co. grew its stake in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock valued at $364,690,000 after purchasing an additional 61,457 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PACCAR by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,149,396 shares of the company’s stock valued at $327,600,000 after purchasing an additional 96,497 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $99.53 on Thursday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a 50 day simple moving average of $105.68 and a 200-day simple moving average of $106.60. The firm has a market cap of $52.25 billion, a PE ratio of 12.58, a P/E/G ratio of 2.77 and a beta of 0.91. 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 posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by insiders.

Analysts Set New Price Targets

PCAR has been the subject of a number of research analyst reports. Citigroup dropped their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. Finally, Evercore ISI decreased their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

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.