PACCAR Inc. $PCAR Shares Bought by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV increased its holdings in PACCAR Inc. by 9.9%, now owning 130,365 shares valued at approximately $12.7 million.
• PACCAR's recent quarterly earnings showed $1.37 earnings per share, surpassing analyst expectations of $1.28, despite a 15.7% decrease in revenue compared to the previous year.
• The company's quarterly dividend announced is $0.33 per share, resulting in an annualized dividend of $1.32 with a yield of 1.3%.

Nissay Asset Management Corp Japan ADV grew its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 9.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,365 shares of the company's stock after buying an additional 11,705 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in PACCAR were worth $12,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares during the period. Wellington Management Group LLP raised its stake in PACCAR by 20.1% during the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after acquiring an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after purchasing an additional 987,805 shares during the period. Northern Trust Corp grew its holdings in PACCAR by 0.5% during the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock valued at $704,956,000 after buying an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PACCAR by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock worth $594,277,000 after purchasing an additional 97,197 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 3.0%

NASDAQ:PCAR traded up $3.01 during trading hours on Thursday, hitting $101.67. The company had a trading volume of 923,760 shares, compared to its average volume of 2,810,284. The company has a market capitalization of $53.38 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The stock has a 50-day moving average price of $98.29 and a 200 day moving average price of $96.22. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 EPS. On average, equities research analysts predict 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 will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR's payout ratio is presently 22.60%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup lifted their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Evercore ISI set a $114.00 price objective on shares of PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.68.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction dated Friday, July 25th. The shares were 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 owned 468 shares of the company's stock, valued at $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

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.