PACCAR Inc. (NASDAQ:PCAR) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in PACCAR Inc. by 13.2%, acquiring an additional 113,768 shares, bringing its total ownership to 974,595 shares valued at approximately $94.9 million.
• PACCAR's CFO and CEO recently sold shares, with CFO Brice J. Poplawski selling 5,000 shares and CEO R. Preston Feight selling nearly 40,000 shares, marking significant decreases in their ownership percentages.
• Analysts have varied opinions on PACCAR stock, with Morgan Stanley downgrading it from "overweight" to "equal weight" while other firms like Vertical Research have upgraded it to a "strong buy," reflecting mixed sentiments in the market.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 13.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974,595 shares of the company's stock after purchasing an additional 113,768 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of PACCAR worth $94,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. grew its stake in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after purchasing an additional 240 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in PACCAR during the 1st quarter worth $29,000. Sunbelt Securities Inc. boosted its position in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Bayforest Capital Ltd boosted its position in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in shares of PACCAR during the 1st quarter worth about $40,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PCAR shares. JPMorgan Chase & Co. upped their price objective on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. Evercore ISI reduced their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Royal Bank Of Canada reduced their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Finally, Citigroup boosted their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.77.

PACCAR Stock Performance

PACCAR stock traded up $0.77 during mid-day trading on Tuesday, reaching $97.92. 706,823 shares of the company were exchanged, compared to its average volume of 2,903,588. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The firm's 50-day simple moving average is $95.83 and its two-hundred day simple moving average is $97.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. The firm has a market cap of $51.42 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 3.91 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period last year, the firm earned $2.13 EPS. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. Equities analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio is 22.60%.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

PACCAR Company 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.