Asset Management One Co. Ltd. Increases Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Asset Management One Co. Ltd. lifted its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 216,068 shares of the company's stock after purchasing an additional 12,868 shares during the quarter. 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 recently modified their holdings of PCAR. Meeder Asset Management Inc. lifted its position in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after buying an additional 193 shares during the last quarter. Sunbelt Securities Inc. lifted its position in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after buying an additional 350 shares during the last quarter. OFI Invest Asset Management acquired a new position in PACCAR in the fourth quarter valued at about $43,000. Atala Financial Inc acquired a new position in PACCAR in the fourth quarter valued at about $43,000. Finally, JFS Wealth Advisors LLC lifted its position in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent analyst reports. Evercore ISI decreased their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group cut shares of 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 research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $104.59.

Insider Buying and Selling

In other news, Director Pierre R. Breber bought 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.02% of the company's stock.

PACCAR Stock Up 0.1%

PCAR stock opened at $94.14 on Thursday. The company's 50 day moving average price is $92.43 and its 200 day moving average price is $100.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 3.48 and a beta of 0.95.

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

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.40%. PACCAR's payout ratio is 20.00%.

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.

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc. (NASDAQ:PCAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.