Daiichi Life Insurance Co. Ltd. Makes New Investment in PACCAR Inc. $PCAR

Key Points

• Daiichi Life Insurance acquired 18,623 PACCAR shares worth approximately $2.24 million during the second quarter. Institutional investors collectively own 64.9% of the company.
• Analysts maintain a consensus “Hold” rating on PACCAR, with an average price target of $131.70; targets range from $119 to $157.
• PACCAR beat quarterly earnings expectations, reporting $1.43 in EPS and $7.55 billion in revenue. The company also declared a quarterly dividend of $0.35 per share, while insiders sold more than 56,800 shares worth approximately $7.6 million over the last quarter.

Daiichi Life Insurance Co. Ltd. bought a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,623 shares of the company's stock, valued at approximately $2,237,000.

Other institutional investors have also modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in shares of PACCAR during the 4th quarter valued at $27,000. Paladin Partners LLC bought a new stake in shares of PACCAR during the second quarter valued at approximately $27,000. MCF Advisors LLC lifted its stake in shares of PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after acquiring an additional 92 shares during the period. Steph & Co. bought a new position in shares of PACCAR during the 1st quarter valued at about $29,000. Finally, Elyxium Wealth LLC acquired a new position in shares of PACCAR in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Ratings Changes

PCAR has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PACCAR in a research note on Tuesday, August 18th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $148.00 target price on shares of PACCAR in a report on Wednesday, July 29th. Wells Fargo & Company boosted their target price on shares of PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Finally, Morgan Stanley set a $119.00 price target on shares of PACCAR in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $131.70.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 1,970 shares of the company's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the transaction, the chief financial officer owned 1,391 shares of the company's stock, valued at approximately $184,307.50. This represents a 58.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by company insiders.

PACCAR Price Performance

Shares of PCAR stock opened at $131.03 on Monday. The stock has a 50 day moving average of $126.48 and a 200-day moving average of $121.88. The firm has a market cap of $68.97 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. The business 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%. PACCAR's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. On average, equities analysts predict that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Dividend Announcement

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

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.

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