PACCAR Inc. $PCAR Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,151,276 shares of the company's stock after acquiring an additional 55,118 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of PACCAR worth $128,436,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC increased its position in PACCAR by 11.7% in the 4th quarter. McIlrath & Eck LLC now owns 28,010 shares of the company's stock valued at $3,067,000 after acquiring an additional 2,928 shares during the period. Principal Financial Group Inc. increased its position in PACCAR by 4.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,968,288 shares of the company's stock valued at $325,057,000 after acquiring an additional 130,568 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its position in PACCAR by 40.3% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,942 shares of the company's stock valued at $322,000 after acquiring an additional 845 shares during the period. Varma Mutual Pension Insurance Co increased its position in PACCAR by 2.3% in the 4th quarter. Varma Mutual Pension Insurance Co now owns 136,843 shares of the company's stock valued at $14,986,000 after acquiring an additional 3,100 shares during the period. Finally, Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies acquired a new position in PACCAR in the 4th quarter valued at about $1,902,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on PACCAR from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an "equal weight" rating in a research report on Wednesday, April 29th. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 price target on the stock. Finally, Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an "equal weight" rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $117.83.

PACCAR Stock Performance

NASDAQ PCAR opened at $116.51 on Thursday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The business's 50 day moving average is $120.42 and its two-hundred day moving average is $114.78. PACCAR Inc. has a 12-month low of $88.43 and a 12-month high of $131.88. The stock has a market capitalization of $61.32 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.05 and a beta of 1.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion for the quarter, compared to analysts' expectations of $6.44 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm's quarterly revenue was down 9.8% on a year-over-year basis. Research analysts expect that PACCAR Inc. will post 5.6 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from PACCAR's previous quarterly dividend of $0.33. PACCAR's payout ratio is currently 28.09%.

Insider Buying and Selling at PACCAR

In related news, CFO Brice J. Poplawski sold 2,200 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the sale, the chief financial officer owned 903 shares in the company, valued at $117,760.23. This represents a 70.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.99% of the stock is currently owned by corporate insiders.

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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