Mitsubishi UFJ Trust & Banking Corp Sells 33,472 Shares of PACCAR Inc (NASDAQ:PCAR)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 270,662 shares of the company’s stock after selling 33,472 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of PACCAR worth $28,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR during the 4th quarter valued at $37,000. Kestra Investment Management LLC bought a new position in PACCAR in the fourth quarter valued at $37,000. OFI Invest Asset Management purchased a new stake in PACCAR during the fourth quarter valued at about $43,000. Atala Financial Inc bought a new stake in PACCAR during the fourth quarter worth about $43,000. Finally, Regents Gate Capital LLP bought a new stake in PACCAR during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $99.53 on Thursday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market cap of $52.25 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a 50-day moving average of $105.68 and a 200-day moving average of $106.60.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Truist Financial increased their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Eight equities 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. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $118.38.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

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.