PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,173 shares of the company's stock after purchasing an additional 4,682 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in PACCAR were worth $7,715,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Madrona Financial Services LLC increased its holdings in shares of PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock valued at $837,000 after acquiring an additional 91 shares during the period. CVA Family Office LLC grew its stake in 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 purchasing an additional 97 shares during the last quarter. Global Financial Private Client LLC grew its stake in PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. Omnia Family Wealth LLC raised its holdings in PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock worth $394,000 after purchasing an additional 98 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of PACCAR by 28.4% during 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 last quarter. Institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated a "sector perform" rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. BNP Paribas upgraded PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Finally, Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.95.

PACCAR Stock Performance

Shares of PACCAR stock traded down $0.02 on Tuesday, reaching $106.09. 1,203,672 shares of the stock were exchanged, compared to its average volume of 2,267,836. The business has a 50 day moving average price of $109.29 and a two-hundred day moving average price of $104.70. The firm has a market capitalization of $55.62 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 2.79 and a beta of 0.92. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

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

PACCAR Increases Dividend

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

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 130,871 shares of company stock valued at $14,586,333. Company insiders own 2.02% of the company's stock.

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.