Sumitomo Mitsui Trust Group Inc. Grows Stock Position in PACCAR Inc. (NASDAQ:PCAR)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,345,179 shares of the company's stock after purchasing an additional 36,650 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of PACCAR worth $130,980,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares in the last quarter. Meeder Asset Management Inc. grew its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after purchasing an additional 193 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in PACCAR during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. raised its position in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after purchasing an additional 350 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of PACCAR during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company's stock.

Analyst Ratings Changes

PCAR has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Royal Bank Of Canada decreased their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Evercore ISI lowered their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $104.59.

PACCAR Stock Performance

PCAR stock opened at $94.89 on Monday. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The stock 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. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. The stock's fifty day moving average is $92.69 and its two-hundred day moving average is $99.53.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm's revenue was down 16.0% on a year-over-year basis. During the same period last year, the business earned $2.27 EPS. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend 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 (DPR) is presently 20.00%.

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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