Norinchukin Bank The Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

Norinchukin Bank The boosted its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 11.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 29,907 shares of the company's stock after purchasing an additional 3,015 shares during the period. Norinchukin Bank The's holdings in PACCAR were worth $3,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Geode Capital Management LLC boosted its position in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after acquiring an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA grew its stake in PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock valued at $1,119,997,000 after acquiring an additional 572,231 shares in the last quarter. FMR LLC increased its holdings in PACCAR by 1.9% during the 4th quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after acquiring an additional 167,165 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in PACCAR by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,006,859 shares of the company's stock valued at $624,836,000 after purchasing an additional 313,292 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Down 1.9 %

PACCAR stock traded down $1.72 during midday trading on Friday, hitting $90.97. 786,862 shares of the company's stock were exchanged, compared to its average volume of 2,745,085. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a market cap of $47.75 billion, a PE ratio of 11.54, a P/E/G ratio of 2.77 and a beta of 0.96. The firm has a 50-day moving average of $97.84 and a two-hundred day moving average of $105.43. PACCAR Inc has a 12 month low of $85.05 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio is presently 16.69%.

Analyst Ratings Changes

Several research firms recently commented on PCAR. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their target price on PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Truist Financial reduced their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $108.59.

Insider Activity

In related news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last ninety days. Company insiders own 2.02% of the company's stock.

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.