Tokio Marine Asset Management Co. Ltd. Acquires 1,121 Shares of PACCAR Inc (NASDAQ:PCAR)

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,794 shares of the company’s stock after buying an additional 1,121 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in PACCAR were worth $1,249,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in shares of PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after purchasing an additional 16,360 shares in the last quarter. abrdn plc lifted its position in PACCAR by 50.9% in the fourth quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after purchasing an additional 89,359 shares during the last quarter. Aigen Investment Management LP bought a new stake in PACCAR in the third quarter valued at approximately $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in PACCAR by 42.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after purchasing an additional 166,628 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in PACCAR by 29.6% in the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after purchasing an additional 16,390 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of PACCAR stock traded down $0.37 during trading on Friday, hitting $112.25. 446,516 shares of the company’s stock traded hands, compared to its average volume of 2,303,050. The business has a 50-day simple moving average of $116.49 and a 200-day simple moving average of $101.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The stock has a market capitalization of $58.82 billion, a P/E ratio of 12.84, a PEG ratio of 1.71 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 EPS. As a group, analysts forecast that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is 12.31%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent research reports. Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective for the company. Morgan Stanley assumed coverage on PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective for the company. The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, TD Cowen upped their target price on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $110.82.

Insider Transactions at PACCAR

In other news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the transaction, the chairman now owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,293 shares of company stock worth $14,581,337. 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.