Mirae Asset Global Investments Co. Ltd. Acquires 27,644 Shares of PACCAR Inc. (NASDAQ:PCAR)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 17.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 181,952 shares of the company's stock after buying an additional 27,644 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in PACCAR were worth $17,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Achmea Investment Management B.V. lifted its holdings in shares of PACCAR by 42.5% during the 1st quarter. Achmea Investment Management B.V. now owns 29,405 shares of the company's stock valued at $2,864,000 after buying an additional 8,772 shares during the period. Perpetual Ltd boosted its position in PACCAR by 5.1% in the first quarter. Perpetual Ltd now owns 10,262 shares of the company's stock worth $999,000 after purchasing an additional 500 shares during the last quarter. Pure Financial Advisors LLC purchased a new position in PACCAR in the first quarter worth about $1,084,000. Omnia Family Wealth LLC grew its stake in shares of PACCAR by 7.4% during the 1st quarter. Omnia Family Wealth LLC now owns 4,296 shares of the company's stock valued at $418,000 after purchasing an additional 295 shares during the period. Finally, Alpine Bank Wealth Management purchased a new stake in shares of PACCAR during the 1st quarter valued at about $29,000. Institutional investors own 64.90% of the company's stock.

PACCAR Price Performance

Shares of PACCAR stock opened at $94.89 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The stock's 50-day simple moving average is $92.69 and its 200-day simple moving average is $99.53. The company has a market capitalization of $49.81 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 3.51 and a beta of 0.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS 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 business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. During the same period in the prior year, the firm posted $2.27 earnings per share. The firm's revenue for the quarter was down 16.0% on a year-over-year basis. As a group, analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were given 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 1.39%. PACCAR's dividend payout ratio is 20.00%.

Insider Activity at PACCAR

In other news, Director Pierre R. Breber bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Friday. Truist Financial cut their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Melius Research set a $120.00 price objective on PACCAR in a research note on Tuesday, March 18th. 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. Finally, Evercore ISI cut their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $104.59.

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.

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