Daiwa Securities Group Inc. Has $11 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Daiwa Securities Group Inc. increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,718 shares of the company’s stock after acquiring an additional 6,573 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PACCAR were worth $10,997,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Madrona Financial Services LLC grew its holdings in shares of PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after buying an additional 91 shares in the last quarter. Global Financial Private Client LLC boosted its position in PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. Omnia Family Wealth LLC boosted its position in PACCAR by 2.5% during the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after purchasing an additional 98 shares during the last quarter. Insight Wealth Partners LLC boosted its position in PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after purchasing an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its position in PACCAR by 0.6% during the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $110.56 on Tuesday. The stock has a market cap of $58.02 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The business has a 50 day moving average of $107.41 and a 200-day moving average of $106.26.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCAR. Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Truist Financial increased their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. increased their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.77.

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.