PACCAR Inc (NASDAQ:PCAR) Stake Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in PACCAR Inc (NASDAQ:PCAR) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,304,807 shares of the company’s stock after buying an additional 20,155 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in PACCAR were worth $128,758,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors raised its stake in PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of PACCAR during the second quarter valued at about $88,437,000. Dorsey & Whitney Trust CO LLC lifted its holdings in PACCAR by 3,636.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock worth $67,696,000 after purchasing an additional 531,794 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of PACCAR in the 2nd quarter worth approximately $51,277,000. Finally, Squarepoint Ops LLC increased its stake in shares of PACCAR by 3,019.7% during the second quarter. Squarepoint Ops LLC now owns 442,564 shares of the company’s stock valued at $45,558,000 after acquiring an additional 428,378 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PCAR shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Truist Financial increased their price objective on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Citigroup raised their price objective on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $116.55.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 in the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Up 0.3 %

Shares of PCAR stock opened at $116.80 on Thursday. PACCAR Inc has a twelve month low of $88.97 and a twelve month high of $125.50. The company has a market capitalization of $61.24 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The stock’s 50 day simple moving average is $102.77 and its 200 day simple moving average is $102.65.

PACCAR (NASDAQ:PCAR) last posted 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. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same period in the previous year, the company posted $2.34 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts predict that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 13.41%.

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.