Sumitomo Mitsui Trust Group Inc. Has $136.11 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 0.3% during the fourth quarter, Holdings Channel reports. The fund owned 1,308,529 shares of the company’s stock after acquiring an additional 3,722 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PACCAR were worth $136,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its holdings in shares of PACCAR by 1.8% in the third quarter. UMB Bank n.a. now owns 33,288 shares of the company’s stock valued at $3,285,000 after purchasing an additional 601 shares in the last quarter. Hudson Capital Management LLC boosted its position in PACCAR by 3.6% in the 3rd quarter. Hudson Capital Management LLC now owns 44,652 shares of the company’s stock valued at $4,406,000 after buying an additional 1,535 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of PACCAR by 23.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 95,397 shares of the company’s stock valued at $9,413,000 after buying an additional 18,309 shares during the period. CVA Family Office LLC raised its position in shares of PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after acquiring an additional 97 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of PACCAR by 130.5% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 669,058 shares of the company’s stock valued at $66,023,000 after acquiring an additional 378,810 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Down 1.5 %

NASDAQ:PCAR opened at $106.02 on Friday. The stock has a market cap of $55.59 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.87 and a beta of 0.92. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $109.71 and a two-hundred day moving average price of $104.57. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts expect that PACCAR Inc will post 7.6 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is currently 16.69%.

Analyst Ratings Changes

A number of brokerages recently commented on PCAR. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Morgan Stanley dropped their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Citigroup reduced their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.95.

Insider Activity at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,871 shares of company stock valued at $14,586,333. 2.02% of the stock is owned by corporate 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.