Resona Asset Management Co. Ltd. Makes New $15.96 Million Investment in PACCAR Inc (NASDAQ:PCAR)

Resona Asset Management Co. Ltd. purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 153,294 shares of the company's stock, valued at approximately $15,958,000.

Several other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after buying an additional 178,813 shares during the period. Janus Henderson Group PLC increased its stake in shares of PACCAR by 3.0% in the third quarter. Janus Henderson Group PLC now owns 65,511 shares of the company's stock worth $6,464,000 after acquiring an additional 1,900 shares during the last quarter. IHT Wealth Management LLC bought a new position in PACCAR during the third quarter valued at approximately $297,000. Morse Asset Management Inc acquired a new stake in PACCAR in the third quarter valued at approximately $370,000. Finally, Stifel Financial Corp grew its position in PACCAR by 6.4% in the third quarter. Stifel Financial Corp now owns 211,861 shares of the company's stock worth $20,906,000 after acquiring an additional 12,807 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR traded up $0.27 on Friday, reaching $89.04. 841,988 shares of the stock traded hands, compared to its average volume of 2,723,141. The firm has a market cap of $46.74 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12 month low of $84.96 and a 12 month high of $121.75. The stock's 50-day moving average price is $101.28 and its 200-day moving average price is $106.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

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PACCAR (NASDAQ:PCAR - Get Free Report) 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%. Equities analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal 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 1.48%. 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%.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction dated Friday, January 31st. The shares were 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 approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now directly 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.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several analyst reports. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. Melius raised PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $108.00 to $78.00 in a report on Monday. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Citigroup reduced their price objective on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and a consensus target price of $112.13.

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.