Sumitomo Mitsui Trust Holdings Inc. Sells 12,468 Shares of PACCAR Inc (NASDAQ:PCAR)

Sumitomo Mitsui Trust Holdings Inc. cut its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,476,024 shares of the company's stock after selling 12,468 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of PACCAR worth $144,134,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of PACCAR during the 3rd quarter worth $26,000. AdvisorNet Financial Inc increased its stake in PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company's stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Arlington Trust Co LLC purchased a new position in PACCAR in the 3rd quarter worth about $30,000. Finally, Achmea Investment Management B.V. purchased a new position in PACCAR in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Trading Down 0.4 %

Shares of PCAR traded down $0.48 during trading hours on Tuesday, hitting $117.54. 1,736,179 shares of the stock traded hands, compared to its average volume of 2,277,372. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The firm has a market capitalization of $61.59 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The business has a fifty day moving average of $115.22 and a 200-day moving average of $100.23.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts expect that PACCAR Inc will post 8.16 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. PACCAR's dividend payout ratio is presently 12.31%.

Analysts Set New Price Targets

A number of brokerages have commented on PCAR. Morgan Stanley began coverage on PACCAR in a research report on Monday, January 8th. They set an "overweight" rating and a $125.00 price objective for the company. Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 price objective for the company. TD Cowen raised their price objective on PACCAR from $91.00 to $108.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. raised their price objective on PACCAR from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Evercore ISI lifted their price target on PACCAR from $94.00 to $101.00 and gave the company an "in-line" rating in a report on Tuesday, February 20th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PACCAR currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.82.

Insider Activity at PACCAR

In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the sale, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the sale, the chairman now owns 4,843,277 shares of the company's stock, valued at $493,675,224.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is owned by insiders.

PACCAR Company Profile

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.