Sumitomo Mitsui Trust Group Inc. Has $136.11 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,308,529 shares of the company's stock after acquiring an additional 3,722 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of PACCAR worth $136,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. UMB Bank n.a. raised its stake in shares of PACCAR by 1.8% during the 3rd quarter. UMB Bank n.a. now owns 33,288 shares of the company's stock worth $3,285,000 after purchasing an additional 601 shares in the last quarter. Hudson Capital Management LLC increased its stake in shares of PACCAR by 3.6% during the 3rd quarter. Hudson Capital Management LLC now owns 44,652 shares of the company's stock worth $4,406,000 after purchasing an additional 1,535 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of PACCAR by 23.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 95,397 shares of the company's stock valued at $9,413,000 after purchasing an additional 18,309 shares during the period. CVA Family Office LLC lifted its stake in PACCAR by 13.3% in the 3rd 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. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in PACCAR by 130.5% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 669,058 shares of the company's stock worth $66,023,000 after purchasing an additional 378,810 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,871 shares of company stock valued at $14,586,333. Company insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PCAR. Evercore ISI upgraded PACCAR from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. 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. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group downgraded shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $121.95.

PACCAR Price Performance

NASDAQ:PCAR traded down $0.02 during trading hours on Tuesday, reaching $106.09. 1,203,672 shares of the company were exchanged, compared to its average volume of 2,267,836. The business has a 50 day moving average of $109.29 and a 200 day moving average of $104.70. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39. The company has a market capitalization of $55.62 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR - Get Free Report) last released 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%. Research analysts forecast that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The company also recently announced 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 (DPR) is currently 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.