Daiwa Securities Group Inc. Purchases 6,573 Shares of PACCAR Inc (NASDAQ:PCAR)

Daiwa Securities Group Inc. grew its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,718 shares of the company's stock after buying an additional 6,573 shares during the period. Daiwa Securities Group Inc.'s holdings in PACCAR were worth $10,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after purchasing an additional 178,813 shares during the period. Covestor Ltd increased its holdings in PACCAR by 24.7% in the third quarter. Covestor Ltd now owns 1,604 shares of the company's stock valued at $158,000 after buying an additional 318 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in PACCAR in the third quarter valued at about $52,000. Venturi Wealth Management LLC increased its holdings in PACCAR by 49.1% in the third quarter. Venturi Wealth Management LLC now owns 5,767 shares of the company's stock valued at $569,000 after buying an additional 1,899 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in PACCAR by 1.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,304,807 shares of the company's stock valued at $128,758,000 after buying an additional 20,155 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Remove Ads

PACCAR Stock Down 1.3 %

PCAR traded down $1.40 during trading on Wednesday, hitting $103.32. The company had a trading volume of 1,087,757 shares, compared to its average volume of 2,504,096. The company has a market capitalization of $54.22 billion, a PE ratio of 13.06, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The firm's 50-day moving average price is $107.42 and its 200 day moving average price is $106.32. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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%. As a group, equities analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio is 16.69%.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research reports. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. Citigroup decreased their target price on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Truist Financial boosted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on PACCAR from $125.00 to $132.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.77.

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.