PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 156,162 shares of the company’s stock after acquiring an additional 3,898 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PACCAR were worth $15,249,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Skopos Labs Inc. purchased a new position in shares of PACCAR in the 4th quarter valued at $426,000. Orion Portfolio Solutions LLC raised its stake in shares of PACCAR by 52.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 41,625 shares of the company’s stock valued at $3,986,000 after acquiring an additional 14,351 shares during the period. Team Hewins LLC purchased a new position in shares of PACCAR in the 4th quarter valued at $462,000. SageView Advisory Group LLC purchased a new stake in PACCAR during the 4th quarter worth $320,000. Finally, AXS Investments LLC purchased a new stake in PACCAR during the 4th quarter worth $244,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. In the last three months, insiders sold 45,040 shares of company stock valued at $4,779,241. Company insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several analyst reports. Truist Financial reaffirmed a “hold” rating and set a $121.00 price target (up previously from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Royal Bank of Canada initiated coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target on the stock. Finally, UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.62.

PACCAR Price Performance

Shares of PCAR stock opened at $109.43 on Monday. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The firm has a fifty day moving average of $114.45 and a two-hundred day moving average of $105.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The firm has a market cap of $57.36 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.69 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same period in the previous year, the business posted $2.25 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that PACCAR Inc will post 8.26 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. PACCAR’s payout ratio is 12.45%.

PACCAR Company 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.