Dai ichi Life Insurance Company Ltd cut its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 50.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,120 shares of the company's stock after selling 72,259 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in PACCAR were worth $7,018,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Quarry LP bought a new position in shares of PACCAR in the 2nd quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new position in PACCAR in the 1st quarter worth about $27,000. Meeder Asset Management Inc. increased its position in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of PACCAR during the 2nd quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC raised its holdings in PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company's stock valued at $38,000 after acquiring an additional 244 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at PACCAR
In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the 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 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 legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin D. Baney sold 9,894 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the sale, the senior vice president now owns 7,121 shares of the company's stock, valued at $761,947. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on PCAR shares. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Truist Financial raised their price target on PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. 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. Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price target on PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $117.64.
View Our Latest Report on PACCAR
PACCAR Stock Performance
NASDAQ PCAR traded up $0.36 on Wednesday, reaching $116.18. The stock had a trading volume of 1,685,361 shares, compared to its average volume of 2,612,256. The stock has a market cap of $60.91 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The business's 50-day moving average price is $106.94 and its 200 day moving average price is $103.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.
PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. PACCAR's revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc will post 7.98 earnings per share for the current year.
PACCAR Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.03%. PACCAR's dividend payout ratio is currently 13.41%.
PACCAR Company Profile
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Free Report)
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.
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![Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&Symbol=PCAR)
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