Nomura Asset Management Co. Ltd. Has $17.35 Million Position in PACCAR Inc (NASDAQ:PCAR)

Nomura Asset Management Co. Ltd. grew its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 175,826 shares of the company's stock after purchasing an additional 13,716 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in PACCAR were worth $17,351,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Security National Bank lifted its holdings in PACCAR by 4.2% in the second quarter. Security National Bank now owns 2,328 shares of the company's stock worth $240,000 after purchasing an additional 93 shares during the period. Brookstone Capital Management lifted its stake in shares of PACCAR by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company's stock worth $258,000 after acquiring an additional 94 shares during the period. CVA Family Office LLC boosted its holdings in shares of PACCAR by 13.3% in the third quarter. CVA Family Office LLC now owns 827 shares of the company's stock valued at $82,000 after acquiring an additional 97 shares in the last quarter. Omnia Family Wealth LLC increased its stake in shares of PACCAR by 2.5% during the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock valued at $394,000 after acquiring an additional 98 shares during the period. Finally, Grove Bank & Trust raised its holdings in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PCAR shares. Citigroup increased their price target on PACCAR from $120.00 to $125.00 and gave the company a "neutral" rating in a research note on Monday. Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and raised their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Morgan Stanley reduced their price objective on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, BNP Paribas upgraded shares of PACCAR to a "hold" rating in a report on Wednesday, October 16th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $118.25.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. The trade was a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock worth $6,358,552 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Up 0.4 %

Shares of PCAR traded up $0.48 during mid-day trading on Wednesday, reaching $115.85. The company's stock had a trading volume of 2,218,317 shares, compared to its average volume of 2,583,089. The company has a market cap of $60.74 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The business has a fifty day moving average of $110.17 and a 200 day moving average of $103.74. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the business earned $2.34 EPS. The business's revenue for the quarter was down 5.2% on a year-over-year basis. As a group, analysts forecast that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This is an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.14%. PACCAR's payout ratio is presently 13.41%.

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.