Norinchukin Bank The Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

Norinchukin Bank The increased its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,907 shares of the company's stock after buying an additional 3,015 shares during the quarter. Norinchukin Bank The's holdings in PACCAR were worth $3,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR in the fourth quarter worth about $37,000. OFI Invest Asset Management purchased a new position in PACCAR during the fourth quarter valued at approximately $43,000. Finally, Atala Financial Inc purchased a new position in shares of PACCAR during the 4th quarter valued at $43,000. Institutional investors own 64.90% of the company's stock.

PACCAR Price Performance

NASDAQ:PCAR traded up $0.52 during trading hours on Wednesday, hitting $89.08. 2,799,060 shares of the stock traded hands, compared to its average volume of 2,752,541. The company has a market cap of $46.76 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average price of $98.44 and a 200 day moving average price of $105.61. PACCAR Inc has a 1 year low of $85.05 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results 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 net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.48%. This is a boost from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's payout ratio is 16.69%.

Analysts Set New Price Targets

PCAR has been the subject of several recent analyst reports. Citigroup reduced their target price on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and upped their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. Finally, Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $108.59.

Insiders Place Their Bets

In other news, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

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.