Asset Management One Co. Ltd. Has $21.04 Million Position in PACCAR Inc. (NASDAQ:PCAR)

Asset Management One Co. Ltd. lifted its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,068 shares of the company's stock after buying an additional 12,868 shares during the period. Asset Management One Co. Ltd.'s holdings in PACCAR were worth $21,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PCAR. Brighton Jones LLC raised its holdings in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after buying an additional 290 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of PACCAR by 116.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,559 shares of the company's stock worth $1,618,000 after purchasing an additional 8,368 shares during the last quarter. IFP Advisors Inc boosted its position in shares of PACCAR by 18.3% in the 4th quarter. IFP Advisors Inc now owns 952 shares of the company's stock worth $99,000 after purchasing an additional 147 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock worth $364,690,000 after purchasing an additional 61,457 shares during the last quarter. Finally, FourThought Financial Partners LLC bought a new position in shares of PACCAR in the 4th quarter worth $308,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent analyst reports. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. downgraded PACCAR from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Citigroup lifted their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Finally, Truist Financial reduced their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $104.59.

Insider Buying and Selling

In related news, Director Pierre R. Breber acquired 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director now directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Price Performance

Shares of PCAR stock traded up $0.01 during trading on Friday, hitting $94.89. The company had a trading volume of 3,274,031 shares, compared to its average volume of 2,717,629. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. The firm has a market capitalization of $49.81 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 3.51 and a beta of 0.95. The stock's 50-day moving average price is $92.69 and its 200 day moving average price is $99.53. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the prior year, the firm earned $2.27 earnings per share. The firm's revenue for the quarter was down 16.0% on a year-over-year basis. Equities analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is 20.00%.

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.