PACCAR Inc. $PCAR Stake Boosted by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its stake in PACCAR Inc. by 1.8%, now holding 220,055 shares valued at approximately $20.9 million.
• PACCAR's latest earnings report showed a missed EPS estimate of $1.12 compared to the consensus of $1.14, along with a 20.7% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.33, which reflects a 1.3% dividend yield and is scheduled for payment on December 3rd.

Asset Management One Co. Ltd. grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 220,055 shares of the company's stock after acquiring an additional 3,987 shares during the period. Asset Management One Co. Ltd.'s holdings in PACCAR were worth $20,918,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted 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 worth $6,133,914,000 after purchasing an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP boosted its holdings in PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in PACCAR by 9.2% in the first 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 in the last quarter. Northern Trust Corp boosted its holdings in PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock worth $704,956,000 after purchasing an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in PACCAR by 1.6% in the first 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 in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Up 0.8%

Shares of PCAR opened at $100.13 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 1.82. The company has a 50-day simple moving average of $98.52 and a 200-day simple moving average of $95.77. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The firm has a market capitalization of $52.58 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.15 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the previous year, the business posted $1.85 EPS. The firm's quarterly revenue was down 20.7% on a year-over-year basis. On average, equities research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid 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 dividend payout ratio (DPR) is presently 25.83%.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an "outperform" rating in a report on Tuesday, August 19th. Jefferies Financial Group restated a "hold" rating and set a $90.00 price target on shares of PACCAR in a report on Tuesday. Truist Financial upped their price target on shares of PACCAR from $97.00 to $108.00 and gave the company a "hold" rating in a report on Wednesday. Finally, Morgan Stanley set a $90.00 price target on shares of PACCAR in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PACCAR currently has an average rating of "Hold" and a consensus target price of $106.59.

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.

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