Mirae Asset Global Investments Co. Ltd. Raises Position in PACCAR Inc (NASDAQ:PCAR)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,510 shares of the company’s stock after purchasing an additional 284 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PACCAR were worth $16,243,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PCAR. Mediolanum International Funds Ltd raised its stake in PACCAR by 157.8% during the 3rd quarter. Mediolanum International Funds Ltd now owns 127,280 shares of the company’s stock worth $12,469,000 after acquiring an additional 77,917 shares in the last quarter. Mcdaniel Terry & Co. raised its stake in PACCAR by 0.7% during the 3rd quarter. Mcdaniel Terry & Co. now owns 385,745 shares of the company’s stock worth $38,065,000 after acquiring an additional 2,559 shares in the last quarter. Bogart Wealth LLC raised its stake in PACCAR by 21.7% during the 3rd quarter. Bogart Wealth LLC now owns 140,098 shares of the company’s stock worth $13,825,000 after acquiring an additional 24,938 shares in the last quarter. Pinnacle West Asset Management Inc. raised its stake in PACCAR by 11.6% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 5,060 shares of the company’s stock worth $499,000 after acquiring an additional 525 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its stake in PACCAR by 27.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 8,690 shares of the company’s stock worth $858,000 after acquiring an additional 1,883 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PCAR shares. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI dropped their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Morgan Stanley dropped their price objective on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.18.

PACCAR Trading Up 1.0 %

Shares of PACCAR stock opened at $105.90 on Friday. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The company has a quick ratio of 2.54, a current ratio of 1.91 and a debt-to-equity ratio of 0.52. The company’s 50-day simple moving average is $99.39 and its 200-day simple moving average is $103.20. The firm has a market cap of $55.51 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.34 earnings per share. As a group, equities research analysts anticipate that PACCAR Inc will post 8.07 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

About PACCAR

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.