Meiji Yasuda Asset Management Co Ltd. Invests $1.41 Million in PACCAR Inc. $PCAR

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,730 shares of the company’s stock, valued at approximately $1,409,000.

Several other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC increased its position in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after acquiring an additional 5,327 shares in the last quarter. Ieq Capital LLC boosted its position in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after purchasing an additional 3,858 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in PACCAR during the 2nd quarter worth $81,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR opened at $129.94 on Tuesday. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The firm has a market cap of $68.40 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.03 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $126.66 and a 200 day simple moving average of $121.89.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 EPS. Equities research analysts expect that PACCAR Inc. will post 5.89 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s payout ratio is presently 29.41%.

Wall Street Analyst Weigh In

Several research analysts have commented on PCAR shares. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Wells Fargo & Company upped their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Finally, Citigroup raised their target price on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus price target of $131.70.

Insiders Place Their Bets

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president owned 3,831 shares in the company, valued at $512,970.90. This trade represents a 43.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by insiders.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.