Nomura Asset Management Co. Ltd. Acquires 221,410 Shares of PACCAR Inc (NASDAQ:PCAR)

Nomura Asset Management Co. Ltd. increased its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 125.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 397,236 shares of the company's stock after purchasing an additional 221,410 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.08% of PACCAR worth $41,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PCAR. New Age Alpha Advisors LLC bought a new stake in shares of PACCAR in the 4th quarter worth approximately $4,508,000. Easterly Investment Partners LLC boosted its holdings in PACCAR by 59.1% in the fourth quarter. Easterly Investment Partners LLC now owns 11,575 shares of the company's stock valued at $1,204,000 after acquiring an additional 4,300 shares in the last quarter. Norges Bank purchased a new position in PACCAR during the 4th quarter valued at $526,922,000. Caisse Des Depots ET Consignations bought a new position in PACCAR in the 4th quarter worth $4,032,000. Finally, LM Advisors LLC purchased a new stake in shares of PACCAR in the 4th quarter worth about $1,022,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last quarter. 2.02% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research reports. Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Melius Research set a $120.00 target price on PACCAR in a research note on Tuesday, March 18th. Citigroup reduced their price target on PACCAR from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $117.54.

PACCAR Stock Up 0.9 %

PCAR stock traded up $0.90 during trading on Tuesday, hitting $98.27. 1,334,697 shares of the stock traded hands, compared to its average volume of 2,649,011. The stock has a market cap of $51.58 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $124.39. The firm's 50 day moving average is $104.93 and its two-hundred day moving average is $106.74.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.34%. 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 dividend payout ratio (DPR) is currently 16.69%.

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.