Tokio Marine Asset Management Co. Ltd. Sells 782 Shares of PACCAR Inc (NASDAQ:PCAR)

Tokio Marine Asset Management Co. Ltd. cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,775 shares of the company’s stock after selling 782 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in PACCAR were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Security National Bank raised its position in PACCAR by 4.2% in the second quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after purchasing an additional 93 shares during the last quarter. Brookstone Capital Management increased its stake in shares of PACCAR by 4.1% in the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock valued at $258,000 after buying an additional 94 shares during the period. CVA Family Office LLC raised its holdings in PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after buying an additional 97 shares during the last quarter. Grove Bank & Trust boosted its position in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after buying an additional 103 shares during the period. Finally, Capital Advisors Wealth Management LLC grew its holdings in PACCAR by 3.6% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 3,145 shares of the company’s stock worth $324,000 after acquiring an additional 108 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PCAR. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Truist Financial lifted their target price on PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average price target of $116.55.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on 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 owns 171,776 shares in the company, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

Shares of PCAR stock opened at $115.06 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The firm has a 50 day moving average of $103.20 and a 200-day moving average of $102.75. The company has a market cap of $60.33 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results 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 net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period last year, the company posted $2.34 earnings per share. The business’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is 13.41%.

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.