Mitsubishi UFJ Asset Management Co. Ltd. Acquires 40,094 Shares of PACCAR Inc (NASDAQ:PCAR)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 860,827 shares of the company’s stock after purchasing an additional 40,094 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of PACCAR worth $90,301,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Melius Research set a $120.00 price objective on PACCAR in a research note on Tuesday, March 18th. Finally, Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $118.38.

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The stock was 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 $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $98.19 on Friday. The firm has a market capitalization of $51.54 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The business has a fifty day simple moving average of $105.45 and a 200 day simple moving average of $106.54. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. 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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s payout ratio is presently 16.69%.

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.