Mirae Asset Global Investments Co. Ltd. Has $16.12 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 154,308 shares of the company's stock after selling 11,202 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in PACCAR were worth $16,119,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust boosted its stake in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $46,000 after buying an additional 103 shares during the period. Sander Capital Advisors Inc. bought a new position in PACCAR in the third quarter valued at about $50,000. Ashton Thomas Securities LLC bought a new stake in shares of PACCAR during the third quarter worth about $52,000. AdvisorNet Financial Inc raised its stake in shares of PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock valued at $59,000 after acquiring an additional 391 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of PACCAR in the 4th quarter valued at about $76,000. Institutional investors own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,871 shares of company stock worth $14,586,333. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PCAR shares. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Citigroup cut their price objective on PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Finally, Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $121.95.

PACCAR Trading Down 1.5 %

Shares of PCAR stock traded down $1.66 on Friday, hitting $106.02. The stock had a trading volume of 1,642,471 shares, compared to its average volume of 2,268,529. The company's 50 day moving average price is $109.49 and its 200-day moving average price is $104.60. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm has a market capitalization of $55.59 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts anticipate that PACCAR Inc will post 7.6 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's payout ratio is presently 15.17%.

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.