PACCAR Inc (NASDAQ:PCAR) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 749,964 shares of the company's stock after purchasing an additional 10,061 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.14% of PACCAR worth $73,234,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. FORVIS Wealth Advisors LLC grew its position in shares of PACCAR by 0.5% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 22,097 shares of the company's stock worth $2,158,000 after buying an additional 109 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of PACCAR by 0.9% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 14,478 shares of the company's stock worth $1,231,000 after buying an additional 124 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of PACCAR by 1.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,654 shares of the company's stock worth $557,000 after buying an additional 124 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of PACCAR by 8.2% in the 1st quarter. Penserra Capital Management LLC now owns 1,653 shares of the company's stock worth $145,000 after buying an additional 125 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of PACCAR by 39.3% during the fourth quarter. Blue Trust Inc. now owns 450 shares of the company's stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PCAR shares. UBS Group upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Morgan Stanley started coverage on PACCAR in a research report on Monday, January 8th. They set an "overweight" rating and a $125.00 price target on the stock. TD Cowen lifted their price target on PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research report on Wednesday, January 24th. Truist Financial initiated coverage on PACCAR in a research report on Thursday, March 14th. They set a "hold" rating and a $117.00 price target on the stock. Finally, Evercore ISI lifted their price objective on PACCAR from $94.00 to $101.00 and gave the company an "in-line" rating in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of "Moderate Buy" and a consensus target price of $109.39.

PACCAR Stock Up 1.4 %

Shares of PCAR stock traded up $1.68 during mid-day trading on Friday, hitting $122.21. The company's stock had a trading volume of 1,391,631 shares, compared to its average volume of 2,295,585. PACCAR Inc has a 52-week low of $68.00 and a 52-week high of $125.50. The business has a 50-day moving average price of $113.17 and a 200 day moving average price of $98.59. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The stock has a market cap of $64.04 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.82 and a beta of 0.92.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion during the quarter, compared to analysts' expectations of $8.48 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. Research analysts predict that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Wednesday, February 14th. PACCAR's dividend payout ratio is currently 12.31%.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 32,797 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 32,797 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company's stock, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last quarter. 2.02% of the stock is currently owned by insiders.

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.